Angeles Investment Advisors LLC Has $295,000 Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Angeles Investment Advisors LLC boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144 shares of the company’s stock after buying an additional 9 shares during the quarter. Angeles Investment Advisors LLC’s holdings in MercadoLibre were worth $295,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MELI. Empower Advisory Group LLC increased its position in MercadoLibre by 67.7% in the 3rd quarter. Empower Advisory Group LLC now owns 696 shares of the company’s stock valued at $1,428,000 after buying an additional 281 shares in the last quarter. Aigen Investment Management LP boosted its stake in shares of MercadoLibre by 79.2% in the 3rd quarter. Aigen Investment Management LP now owns 767 shares of the company’s stock worth $1,574,000 after buying an additional 339 shares during the last quarter. Platform Technology Partners purchased a new position in shares of MercadoLibre in the 3rd quarter worth approximately $250,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of MercadoLibre by 3.2% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 231,887 shares of the company’s stock worth $475,823,000 after buying an additional 7,291 shares during the last quarter. Finally, Patron Partners LLC purchased a new position in MercadoLibre in the third quarter valued at approximately $246,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

MELI traded down $27.22 during trading on Wednesday, reaching $1,950.17. The stock had a trading volume of 38,090 shares, compared to its average volume of 365,037. The stock has a market cap of $98.87 billion, a PE ratio of 68.85, a PEG ratio of 1.31 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The business has a 50-day moving average of $2,044.19 and a 200-day moving average of $1,836.97.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MELI. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Wednesday. BTIG Research lowered their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Wedbush reissued an “outperform” rating and set a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.