MercadoLibre, Inc. (NASDAQ:MELI) Holdings Lowered by Bamco Inc. NY

Bamco Inc. NY cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,453 shares of the company’s stock after selling 7,258 shares during the period. Bamco Inc. NY’s holdings in MercadoLibre were worth $107,631,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC boosted its stake in MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after purchasing an additional 70,154 shares in the last quarter. FMR LLC boosted its stake in MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares in the last quarter. Legal & General Group Plc grew its holdings in MercadoLibre by 3.6% during the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after acquiring an additional 11,265 shares during the period. Royal London Asset Management Ltd. raised its position in MercadoLibre by 17.0% in the second quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after acquiring an additional 40,361 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in MercadoLibre by 12.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after acquiring an additional 27,832 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI opened at $1,985.17 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market capitalization of $100.65 billion, a price-to-earnings ratio of 70.05, a P/E/G ratio of 1.35 and a beta of 1.61. The business’s 50-day moving average is $2,020.96 and its 200-day moving average is $1,869.98. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

Analysts Set New Price Targets

A number of research firms recently commented on MELI. BTIG Research dropped their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Cantor Fitzgerald dropped their price target 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. Morgan Stanley reduced their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Barclays cut their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,267.67.

About MercadoLibre

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.