ICICI Prudential Asset Management Co Ltd Acquires 105 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

ICICI Prudential Asset Management Co Ltd lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 18.9% during the third quarter, HoldingsChannel reports. The firm owned 661 shares of the company’s stock after purchasing an additional 105 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in MercadoLibre were worth $1,356,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in MELI. Migdal Insurance & Financial Holdings Ltd. grew its position in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares in the last quarter. Optimum Investment Advisors grew its position in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares in the last quarter. Financial Connections Group Inc. acquired a new stake in MercadoLibre during the second quarter worth about $36,000. Quarry LP acquired a new stake in MercadoLibre during the second quarter worth about $43,000. Finally, NBC Securities Inc. grew its position in MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after buying an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 2.2 %

NASDAQ:MELI traded down $44.40 on Wednesday, reaching $1,932.99. The company’s stock had a trading volume of 127,375 shares, compared to its average volume of 365,367. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The business’s 50-day moving average price is $2,044.19 and its two-hundred day moving average price is $1,836.97. The firm has a market cap of $98.00 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.

Analyst Ratings Changes

MELI has been the topic of a number of recent research reports. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. The Goldman Sachs Group lifted their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Bank of America lifted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Barclays decreased their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, BTIG Research decreased their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Three investment 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. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus 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.