Price T Rowe Associates Inc. MD boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 43.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 771,893 shares of the company’s stock after acquiring an additional 232,787 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.52% of MercadoLibre worth $1,167,073,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. First PREMIER Bank bought a new stake in MercadoLibre during the 1st quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in MercadoLibre during the 4th quarter valued at $28,000. Archer Investment Corp bought a new stake in MercadoLibre during the 4th quarter valued at $31,000. Larson Financial Group LLC bought a new stake in MercadoLibre during the 4th quarter valued at $36,000. Finally, DSM Capital Partners LLC bought a new stake in MercadoLibre during the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.
MercadoLibre Stock Up 1.6 %
NASDAQ:MELI traded up $26.54 during mid-day trading on Friday, hitting $1,651.69. 169,025 shares of the company’s stock traded hands, compared to its average volume of 268,254. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27. The company has a fifty day moving average of $1,654.99 and a 200 day moving average of $1,619.50. The company has a market capitalization of $83.74 billion, a P/E ratio of 73.90, a P/E/G ratio of 1.22 and a beta of 1.60. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $1,825.00.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on MELI. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their target price for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Barclays boosted their price target on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Finally, UBS Group reduced their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,922.08.
Get Our Latest Stock Analysis on MercadoLibre
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.
Further Reading
- Five stocks we like better than MercadoLibre
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Is Crypto Cool Again? What Stocks You Should Be Watching
- Are Penny Stocks a Good Fit for Your Portfolio?
- Why Call Options Volume for These 2 Stocks Spiked Together
- Buy P&G Now, Before It Sets A New All-Time High
- MarketBeat Week in Review – 7/22 – 7/26
Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI – Free Report).
Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.