Brown Brothers Harriman & Co. Buys 28 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Brown Brothers Harriman & Co. lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 17.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 188 shares of the company’s stock after acquiring an additional 28 shares during the period. Brown Brothers Harriman & Co.’s holdings in MercadoLibre were worth $386,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MELI. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of MercadoLibre by 1,600.0% in the 2nd 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 during 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 valued at $35,000 after acquiring an additional 15 shares during the last quarter. Financial Connections Group Inc. bought a new position in shares of MercadoLibre in the 2nd quarter valued at about $36,000. Quarry LP bought a new stake in MercadoLibre in the second quarter worth about $43,000. Finally, Legacy Bridge LLC lifted its stake in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on MELI shares. JPMorgan Chase & Co. decreased their price objective on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Redburn Atlantic started coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Raymond James started coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Finally, The Goldman Sachs Group raised their price objective on shares of 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 analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Price Performance

Shares of MELI opened at $2,044.76 on Thursday. The firm has a market capitalization of $103.67 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 1.43 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company’s fifty day moving average price is $2,024.62 and its 200-day moving average price is $1,864.25.

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.