Healthcare of Ontario Pension Plan Trust Fund Has $134.97 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 92.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,776 shares of the company’s stock after purchasing an additional 31,584 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.13% of MercadoLibre worth $134,970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MELI. International Assets Investment Management LLC lifted its holdings in MercadoLibre by 205,108.3% during the 3rd 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. Strategic Financial Concepts LLC bought a new position in MercadoLibre during the 2nd quarter worth $2,913,000. FMR LLC increased its stake in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after acquiring an additional 137,564 shares during the period. Manning & Napier Advisors LLC bought a new position in MercadoLibre during the 2nd quarter worth $121,137,000. Finally, Swedbank AB increased its stake in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent research reports. Bank of America raised their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Citigroup lowered their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday. The Goldman Sachs Group upped their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Cantor Fitzgerald lowered their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Stock Up 0.5 %

Shares of NASDAQ:MELI opened at $2,110.00 on Wednesday. The business’s 50 day simple moving average is $2,025.78 and its two-hundred day simple moving average is $1,862.98. The firm has a market cap of $106.98 billion, a P/E ratio of 74.45, a PEG ratio of 1.43 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 52-week low of $1,324.99 and a 52-week high of $2,161.73.

MercadoLibre Company 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.