Patron Partners LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Patron Partners LLC acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 120 shares of the company’s stock, valued at approximately $246,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its holdings in shares of 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. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after acquiring an additional 4,658 shares in the last quarter. Caprock Group LLC increased its holdings in shares of MercadoLibre by 143.7% during the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after acquiring an additional 342 shares during the last quarter. Sarasin & Partners LLP raised its stake in shares of MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares in the last quarter. Finally, Privium Fund Management UK Ltd acquired a new stake in MercadoLibre in the 2nd quarter worth approximately $875,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent analyst reports. BTIG Research dropped their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Raymond James began coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target for the company. in a report on Wednesday, October 2nd. Morgan Stanley cut their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Cantor Fitzgerald lowered their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $2,306.33.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,961.16 on Tuesday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The stock has a market cap of $99.42 billion, a P/E ratio of 69.20, a PEG ratio of 1.15 and a beta of 1.61. The company’s 50-day simple moving average is $2,046.45 and its 200 day simple moving average is $1,828.74.

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.