West Family Investments Inc. Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

West Family Investments Inc. acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 111 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its stake in MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after purchasing an additional 248,181 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 in the last quarter. Strategic Financial Concepts LLC bought a new position in MercadoLibre during the second quarter valued at approximately $2,913,000. Janus Henderson Group PLC raised 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 acquiring an additional 132,028 shares in the last quarter. Finally, Capital World Investors lifted its holdings in shares of MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after acquiring an additional 95,029 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,916.51 on Wednesday. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The stock has a market capitalization of $97.17 billion, a P/E ratio of 67.63, a P/E/G ratio of 1.28 and a beta of 1.61. The company’s 50-day moving average is $2,033.32 and its 200 day moving average is $1,851.27. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

Analyst Ratings Changes

MELI has been the topic of a number of analyst reports. Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. JPMorgan Chase & Co. lowered their target price 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. Redburn Atlantic initiated coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. Wedbush reissued an “outperform” rating and set a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Finally, Bank of America lifted their target price 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. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.