Westfield Capital Management Co. LP Buys New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Westfield Capital Management Co. LP purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 209 shares of the company’s stock, valued at approximately $429,000.

A number of other large investors also recently modified their holdings of MELI. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors raised its holdings in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $36,000. Quarry LP bought a new stake in shares of MercadoLibre during the second quarter valued at approximately $43,000. Finally, Legacy Bridge LLC raised 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 purchasing an additional 8 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Bank of America lifted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. lowered their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. BTIG Research cut their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Raymond James started coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Finally, Barclays cut their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Three investment 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Price Performance

MELI opened at $2,099.95 on Tuesday. 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 stock has a market capitalization 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. The company’s 50 day simple moving average is $2,025.06 and its 200-day simple moving average is $1,860.05. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year 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.