MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by GM Advisory Group LLC

GM Advisory Group LLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.1% during the third quarter, Holdings Channel.com reports. The firm owned 134 shares of the company’s stock after acquiring an additional 10 shares during the period. GM Advisory Group LLC’s holdings in MercadoLibre were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

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

MercadoLibre Stock Up 1.9 %

MELI stock opened at $2,005.00 on Friday. The company has a 50 day moving average of $2,025.17 and a two-hundred day moving average of $1,855.05. The company has a market cap of $101.65 billion, a price-to-earnings ratio of 70.75, a PEG ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Wall Street Analyst Weigh In

MELI has been the topic of several recent research reports. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Susquehanna lifted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Raymond James assumed coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. Wedbush reissued an “outperform” rating and set a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Finally, Barclays cut their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre 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.