MercadoLibre, Inc. (NASDAQ:MELI) Stock Holdings Lessened by Wrapmanager Inc.

Wrapmanager Inc. reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 164 shares of the company’s stock after selling 15 shares during the quarter. Wrapmanager Inc.’s holdings in MercadoLibre were worth $337,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares in the last quarter. Optimum Investment Advisors grew its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new position in MercadoLibre in the second quarter valued at about $36,000. Legacy Bridge LLC increased its position in MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of MercadoLibre during the 2nd quarter worth about $43,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 0.0 %

MELI stock opened at $1,916.51 on Wednesday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. 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 business’s 50 day moving average is $2,033.32 and its 200-day moving average is $1,851.27. The firm has a market cap of $97.17 billion, a P/E ratio of 67.63, a P/E/G ratio of 1.28 and a beta of 1.61.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of research reports. Citigroup increased their price objective on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Morgan Stanley dropped their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Wedbush reaffirmed an “outperform” rating and issued a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Finally, Bank of America boosted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

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.