Premier Fund Managers Ltd Buys 2,094 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Premier Fund Managers Ltd boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 40.2% in the third quarter, Holdings Channel reports. The firm owned 7,301 shares of the company’s stock after purchasing an additional 2,094 shares during the quarter. Premier Fund Managers Ltd’s holdings in MercadoLibre were worth $15,059,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Migdal Insurance & Financial Holdings Ltd. raised its position 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 buying an additional 16 shares in the last quarter. Optimum Investment Advisors increased its stake in MercadoLibre by 750.0% in the third 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. acquired a new position in MercadoLibre during the second quarter valued at approximately $36,000. Quarry LP bought a new stake in MercadoLibre during the second quarter worth $43,000. Finally, Legacy Bridge LLC boosted its holdings in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Bank of America boosted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Susquehanna boosted their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group raised 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 note on Thursday, August 8th. Redburn Atlantic began coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Finally, 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 research note on Thursday, November 7th. 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 stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,916.51 on Wednesday. The company has a market capitalization of $97.17 billion, a price-to-earnings ratio of 67.63, a PEG ratio of 1.28 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The stock has a fifty day simple moving average of $2,033.32 and a 200 day simple moving average of $1,851.27.

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.