Gulf International Bank UK Ltd Sells 1,404 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Gulf International Bank UK Ltd lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 28.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,576 shares of the company’s stock after selling 1,404 shares during the period. Gulf International Bank UK Ltd’s holdings in MercadoLibre were worth $7,337,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MELI. GQG Partners LLC grew its position in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after buying an additional 648,198 shares in the last quarter. International Assets Investment Management LLC lifted its stake in MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after acquiring an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of MercadoLibre in the 2nd quarter valued at about $2,913,000. Finally, Janus Henderson Group PLC increased its stake in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after purchasing an additional 132,028 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MELI has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. The Goldman Sachs Group raised their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America boosted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Redburn Atlantic initiated coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. Finally, Citigroup boosted their target price on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Stock Performance

MELI opened at $2,063.70 on Tuesday. The firm has a market capitalization of $104.63 billion, a P/E ratio of 74.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock’s 50 day moving average price is $2,051.56 and its two-hundred day moving average price is $1,812.10. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67.

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.