102 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Acquired by 49 Wealth Management LLC

49 Wealth Management LLC purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 102 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised 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 worth $28,000 after purchasing an additional 16 shares during the period. Optimum Investment Advisors raised 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 worth $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $36,000. Quarry LP bought a new stake in MercadoLibre during the 2nd quarter valued at $43,000. Finally, Legacy Bridge LLC raised its holdings in MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Susquehanna boosted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. BTIG Research lowered their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group upped their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Stock Up 1.9 %

Shares of NASDAQ:MELI opened at $2,005.00 on Friday. The stock’s 50-day moving average price is $2,025.17 and its 200-day moving average price is $1,855.05. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock has a market capitalization of $101.65 billion, a P/E ratio of 70.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

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.