Fiduciary Trust Co Raises Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Fiduciary Trust Co lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 16.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 511 shares of the company’s stock after purchasing an additional 71 shares during the period. Fiduciary Trust Co’s holdings in MercadoLibre were worth $1,049,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. raised its stake 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 in the last quarter. Optimum Investment Advisors lifted its holdings in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares during the period. Financial Connections Group Inc. bought a new position in shares of MercadoLibre during the 2nd quarter worth $36,000. Quarry LP purchased a new position in shares of MercadoLibre during the second quarter valued at $43,000. Finally, Legacy Bridge LLC increased its stake 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 period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MELI. JPMorgan Chase & Co. dropped 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 report on Wednesday, November 13th. Wedbush reissued an “outperform” rating and set a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Morgan Stanley reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Raymond James started coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Finally, The Goldman Sachs Group upped their price objective 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. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Stock Down 2.9 %

NASDAQ:MELI opened at $1,985.17 on Friday. The firm has a market capitalization of $100.64 billion, a P/E ratio of 70.05, a PEG ratio of 1.39 and a beta of 1.61. The company’s fifty day moving average price is $2,020.96 and its 200-day moving average price is $1,867.64. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

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.