First Horizon Advisors Inc. Cuts Position in MercadoLibre, Inc. (NASDAQ:MELI)

First Horizon Advisors Inc. reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 155 shares of the company’s stock after selling 8 shares during the period. First Horizon Advisors Inc.’s holdings in MercadoLibre were worth $318,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after purchasing an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of MercadoLibre in the second quarter worth about $2,913,000. Janus Henderson Group PLC grew its stake in shares of MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at about $121,137,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI opened at $2,005.00 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market cap of $101.65 billion, a price-to-earnings ratio of 70.75, a PEG ratio of 1.31 and a beta of 1.61. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The stock has a 50 day moving average of $2,025.17 and a 200-day moving average of $1,855.05.

Analysts Set New Price Targets

MELI has been the subject of a number of analyst reports. Susquehanna upped their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Bank of America raised their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Redburn Atlantic began coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. Barclays decreased their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, Wedbush reaffirmed an “outperform” rating and set a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.