MercadoLibre, Inc. (NASDAQ:MELI) Shares Purchased by Legacy Bridge LLC

Legacy Bridge LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 53.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23 shares of the company’s stock after purchasing an additional 8 shares during the quarter. Legacy Bridge LLC’s holdings in MercadoLibre were worth $47,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MELI. International Assets Investment Management LLC grew its position in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after acquiring an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after purchasing an additional 232,787 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth about $2,913,000. Janus Henderson Group PLC raised its holdings in MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares during the period. Finally, Capital World Investors lifted its position in MercadoLibre by 12.7% in the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after buying an additional 95,029 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 1.9 %

NASDAQ:MELI opened at $1,916.12 on Tuesday. 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 cap of $97.15 billion, a P/E ratio of 67.61, a P/E/G ratio of 1.28 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. The stock has a 50-day simple moving average of $2,035.34 and a 200-day simple moving average of $1,849.25.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MELI shares. The Goldman Sachs Group lifted their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Redburn Atlantic began coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. BTIG Research dropped their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average 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.