Strategy Asset Managers LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Strategy Asset Managers LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,898 shares of the company’s stock, valued at approximately $3,895,000.

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

MercadoLibre Trading Up 0.0 %

NASDAQ:MELI opened at $1,916.51 on Wednesday. The company has a market capitalization of $97.17 billion, a PE ratio of 67.63, a P/E/G ratio of 1.28 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’s 50 day moving average price is $2,033.32 and its 200 day moving average price is $1,851.27. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Raymond James began coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Bank of America lifted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Finally, BTIG Research dropped their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. 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, the company has a consensus rating of “Moderate Buy” and an average target price 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.