Cambridge Investment Research Advisors Inc. lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 24.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,809 shares of the company’s stock after selling 921 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in MercadoLibre were worth $3,328,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Ameritas Investment Partners Inc. lifted its stake in shares of MercadoLibre by 0.7% in the 1st quarter. Ameritas Investment Partners Inc. now owns 1,077 shares of the company’s stock worth $1,420,000 after purchasing an additional 8 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in MercadoLibre by 0.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 1,224 shares of the company’s stock worth $1,613,000 after acquiring an additional 9 shares during the period. Allworth Financial LP raised its stake in MercadoLibre by 32.1% during the 1st quarter. Allworth Financial LP now owns 37 shares of the company’s stock worth $49,000 after acquiring an additional 9 shares during the period. AdvisorNet Financial Inc raised its stake in MercadoLibre by 0.9% during the 1st quarter. AdvisorNet Financial Inc now owns 1,144 shares of the company’s stock worth $1,508,000 after acquiring an additional 10 shares during the period. Finally, CVA Family Office LLC raised its stake in MercadoLibre by 21.3% during the 2nd quarter. CVA Family Office LLC now owns 57 shares of the company’s stock worth $68,000 after acquiring an additional 10 shares during the period. Institutional investors own 80.01% of the company’s stock.
MercadoLibre Trading Down 1.0 %
MELI stock opened at $1,256.52 on Thursday. The firm has a fifty day moving average price of $1,299.51 and a 200 day moving average price of $1,259.08. MercadoLibre, Inc. has a fifty-two week low of $754.76 and a fifty-two week high of $1,451.56. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.25 and a current ratio of 1.28. The firm has a market cap of $62.94 billion, a PE ratio of 84.10, a price-to-earnings-growth ratio of 1.34 and a beta of 1.51.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on MELI shares. Jefferies Financial Group decreased their target price on shares of MercadoLibre from $1,400.00 to $1,300.00 and set a “hold” rating on the stock in a research note on Tuesday, July 25th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the stock from $1,400.00 to $1,650.00 in a research note on Friday, September 1st. Wedbush assumed coverage on shares of MercadoLibre in a report on Monday, August 21st. They set an “outperform” rating and a $1,500.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $1,700.00 to $2,000.00 and gave the company an “overweight” rating in a report on Monday, August 7th. Finally, TheStreet raised shares of MercadoLibre from a “c+” rating to a “b-” rating in a report on Wednesday, September 6th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $1,643.21.
About MercadoLibre
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.
Read More
- Five stocks we like better than MercadoLibre
- What Investors Need to Know to Beat the Market
- How You Can Reverse Engineer Michael Burry’s Latest Buy
- 10 Best Airline Stocks to Buy
- The Odds Are High Costco Will Declare a Special Dividend SoonÂ
- The 3 Best Blue-Chip Stocks to Buy Now
- 3 Mid-Cap Momentum Plays to Ride Into Q4
Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI – Free Report).
Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.
