MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Bamco Inc. NY

Bamco Inc. NY trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 12.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,453 shares of the company’s stock after selling 7,258 shares during the period. Bamco Inc. NY owned about 0.10% of MercadoLibre worth $107,631,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MELI. Paloma Partners Management Co raised its holdings in MercadoLibre by 42.3% in the third quarter. Paloma Partners Management Co now owns 279 shares of the company’s stock valued at $572,000 after acquiring an additional 83 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of MercadoLibre in the 3rd quarter worth about $9,703,000. Timber Creek Capital Management LLC raised its stake in shares of MercadoLibre by 0.7% in the 3rd quarter. Timber Creek Capital Management LLC now owns 2,838 shares of the company’s stock valued at $5,823,000 after purchasing an additional 20 shares in the last quarter. Kolinsky Wealth Management LLC lifted its position in shares of MercadoLibre by 7.7% during the third quarter. Kolinsky Wealth Management LLC now owns 211 shares of the company’s stock worth $433,000 after purchasing an additional 15 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in MercadoLibre by 1.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 83,073 shares of the company’s stock worth $170,462,000 after purchasing an additional 1,099 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MELI opened at $1,985.17 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $2,020.96 and its 200-day moving average is $1,869.98. The stock has a market cap of $100.65 billion, a PE ratio of 70.05, a price-to-earnings-growth ratio of 1.35 and a beta of 1.61. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MELI. Wedbush restated an “outperform” rating and set a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Morgan Stanley dropped their price target on 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. Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. BTIG Research lowered their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Three investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

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.