Algert Global LLC Purchases 1,243 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Algert Global LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 318.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,633 shares of the company’s stock after purchasing an additional 1,243 shares during the period. Algert Global LLC’s holdings in MercadoLibre were worth $3,351,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MELI. Jennison Associates LLC grew its holdings in shares of MercadoLibre by 3.9% during 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 in the last quarter. Legal & General Group Plc grew its stake in MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after buying an additional 11,265 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of MercadoLibre by 17.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after buying an additional 40,361 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of MercadoLibre by 12.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after buying an additional 27,832 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of 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 acquiring an additional 248,181 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Bank of America upped their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Citigroup lifted their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Raymond James began coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. Three investment 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,099.95 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm’s fifty day simple moving average is $2,025.06 and its 200 day simple moving average is $1,860.05. The stock has a market cap of $106.46 billion, a P/E ratio of 74.10, a price-to-earnings-growth ratio of 1.37 and a beta of 1.61. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

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.