GS Investments Inc. Invests $964,000 in MercadoLibre, Inc. (NASDAQ:MELI)

GS Investments Inc. acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 470 shares of the company’s stock, valued at approximately $964,000.

A number of other hedge funds also recently bought and sold shares of MELI. Brown Capital Management LLC lifted its stake in shares of MercadoLibre by 2.4% in the 3rd quarter. Brown Capital Management LLC now owns 26,194 shares of the company’s stock valued at $53,749,000 after acquiring an additional 608 shares during the last quarter. Citizens Financial Group Inc. RI bought a new stake in MercadoLibre in the third quarter valued at approximately $209,000. Moran Wealth Management LLC boosted its stake in shares of MercadoLibre by 50.2% during the third quarter. Moran Wealth Management LLC now owns 419 shares of the company’s stock valued at $860,000 after purchasing an additional 140 shares during the period. Jennison Associates LLC grew its holdings in shares of MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the last quarter. Finally, Strategy Asset Managers LLC purchased a new position in shares of MercadoLibre in the third quarter worth $3,895,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.8 %

NASDAQ:MELI opened at $1,931.26 on Thursday. The firm has a 50-day simple moving average of $2,031.02 and a two-hundred day simple moving average of $1,851.83. The firm has a market cap of $97.91 billion, a P/E ratio of 68.15, a P/E/G ratio of 1.31 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two 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.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MELI shares. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. Bank of America boosted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Raymond James started coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.