Intech Investment Management LLC Sells 113 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Intech Investment Management LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,147 shares of the company’s stock after selling 113 shares during the period. Intech Investment Management LLC’s holdings in MercadoLibre were worth $4,406,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Raymond James & Associates raised its holdings in MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after acquiring an additional 1,604 shares during the period. KBC Group NV grew its position in shares of MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after purchasing an additional 17,677 shares during the last quarter. Caprock Group LLC increased its stake in shares of MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after purchasing an additional 342 shares during the period. Sarasin & Partners LLP lifted its position in shares of MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after purchasing an additional 28,494 shares during the last quarter. Finally, Parnassus Investments LLC lifted its position in shares of MercadoLibre by 3.0% during the 3rd quarter. Parnassus Investments LLC now owns 14,903 shares of the company’s stock worth $30,580,000 after purchasing an additional 436 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent analyst reports. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and set a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Susquehanna boosted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Finally, Citigroup increased their target price on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $2,269.67.

MercadoLibre Stock Up 1.9 %

Shares of NASDAQ MELI opened at $2,005.00 on Friday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The business has a fifty day moving average of $2,025.17 and a two-hundred day moving average of $1,855.05. The stock has a market cap of $101.65 billion, a PE ratio of 70.75, a PEG ratio of 1.31 and a beta of 1.61.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.