MercadoLibre, Inc. (NASDAQ:MELI) Position Raised by MayTech Global Investments LLC

MayTech Global Investments LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 16.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,977 shares of the company’s stock after acquiring an additional 3,198 shares during the period. MercadoLibre makes up about 6.2% of MayTech Global Investments LLC’s portfolio, making the stock its 4th biggest holding. MayTech Global Investments LLC’s holdings in MercadoLibre were worth $47,148,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates increased its stake in shares of MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after acquiring an additional 1,604 shares during the period. KBC Group NV raised its stake in shares of MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after buying an additional 17,677 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after buying an additional 342 shares during the period. Sarasin & Partners LLP grew its holdings in MercadoLibre by 168.5% during the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after acquiring an additional 28,494 shares during the period. Finally, Parnassus Investments LLC raised its position in MercadoLibre by 3.0% during the third quarter. Parnassus Investments LLC now owns 14,903 shares of the company’s stock valued at $30,580,000 after acquiring an additional 436 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Down 3.1 %

MELI opened at $2,044.76 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company’s 50 day simple moving average is $2,024.62 and its two-hundred day simple moving average is $1,864.25. The firm has a market capitalization of $103.67 billion, a price-to-earnings ratio of 72.15, a price-to-earnings-growth ratio of 1.43 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MELI shares. Wedbush reaffirmed 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. Susquehanna lifted their price objective 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 dropped their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Bank of America upped 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. Finally, JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,267.67.

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.