MercadoLibre, Inc. (NASDAQ:MELI) Holdings Lowered by Dynamo Administracao de Recursos Ltda.

Dynamo Administracao de Recursos Ltda. reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 39.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 784 shares of the company’s stock after selling 508 shares during the period. MercadoLibre comprises 67.8% of Dynamo Administracao de Recursos Ltda.’s investment portfolio, making the stock its biggest position. Dynamo Administracao de Recursos Ltda.’s holdings in MercadoLibre were worth $1,609,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. boosted 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 worth $28,000 after buying an additional 16 shares in the last quarter. Optimum Investment Advisors grew its position in shares of 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 purchasing an additional 15 shares during the last quarter. Financial Connections Group Inc. purchased a new position in shares of MercadoLibre during the 2nd quarter worth approximately $36,000. Legacy Bridge LLC raised its position in shares of MercadoLibre by 53.3% during the 3rd 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. Finally, Quarry LP purchased a new stake in MercadoLibre in the 2nd quarter valued at approximately $43,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup dropped their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Susquehanna boosted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Raymond James began coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Finally, Bank of America increased their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Three equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,985.17 on Friday. The stock’s 50-day moving average is $2,020.96 and its 200-day moving average is $1,867.64. The company has a market cap of $100.64 billion, a price-to-earnings ratio of 70.05, a price-to-earnings-growth ratio of 1.39 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 12 month low of $1,324.99 and a 12 month high of $2,161.73.

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.