STF Management LP Cuts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

STF Management LP reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 10.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 735 shares of the company’s stock after selling 86 shares during the quarter. STF Management LP’s holdings in MercadoLibre were worth $1,508,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MELI. Migdal Insurance & Financial Holdings Ltd. grew its holdings in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors grew its holdings in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares during the last quarter. Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre during the second quarter valued at $36,000. Quarry LP purchased a new stake in shares of MercadoLibre during the second quarter valued at $43,000. Finally, Legacy Bridge LLC grew its holdings in shares of MercadoLibre by 53.3% during 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 during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 1.7 %

MELI opened at $1,965.00 on Friday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. 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 company has a 50-day moving average price of $2,027.52 and a 200 day moving average price of $1,852.61. The company has a market cap of $99.63 billion, a PE ratio of 69.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on MELI shares. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. BTIG Research decreased their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Morgan Stanley decreased their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Raymond James began coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of 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 investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.