Aigen Investment Management LP Has $1.57 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Aigen Investment Management LP boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 79.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 767 shares of the company’s stock after acquiring an additional 339 shares during the quarter. Aigen Investment Management LP’s holdings in MercadoLibre were worth $1,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Platform Technology Partners acquired a new stake in MercadoLibre during the 3rd quarter valued at $250,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of MercadoLibre by 3.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 231,887 shares of the company’s stock valued at $475,823,000 after purchasing an additional 7,291 shares during the last quarter. Patron Partners LLC bought a new position in shares of MercadoLibre in the third quarter valued at about $246,000. Waverton Investment Management Ltd lifted its stake in shares of MercadoLibre by 2.6% during the 3rd quarter. Waverton Investment Management Ltd now owns 21,136 shares of the company’s stock worth $43,344,000 after buying an additional 537 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in shares of MercadoLibre during the 3rd quarter worth about $5,598,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MELI. Citigroup increased their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Susquehanna raised their target price 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. Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Raymond James began coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. Finally, BTIG Research decreased their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,306.33.

MercadoLibre Trading Up 0.9 %

Shares of MELI stock traded up $18.26 during trading hours on Tuesday, hitting $1,979.42. 71,544 shares of the company’s stock traded hands, compared to its average volume of 363,946. The stock has a market cap of $100.35 billion, a PE ratio of 69.20, a price-to-earnings-growth ratio of 1.15 and a beta of 1.61. The stock’s 50 day simple moving average is $2,044.44 and its 200 day simple moving average is $1,832.95. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

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.