Fortis Capital Management LLC Grows Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Fortis Capital Management LLC lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,369 shares of the company’s stock after purchasing an additional 36 shares during the period. MercadoLibre accounts for 1.0% of Fortis Capital Management LLC’s portfolio, making the stock its 28th biggest position. Fortis Capital Management LLC’s holdings in MercadoLibre were worth $4,861,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of MELI. Migdal Insurance & Financial Holdings Ltd. boosted its position in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing 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 period. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre during the 2nd quarter worth about $36,000. Quarry LP purchased a new position in MercadoLibre in the 2nd quarter valued at about $43,000. Finally, NBC Securities Inc. boosted its holdings in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after buying an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of research reports. Raymond James initiated coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Bank of America upped their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. BTIG Research lowered their price target on shares of 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. Finally, The Goldman Sachs Group increased 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. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Stock Down 2.3 %

Shares of MELI opened at $1,930.95 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market capitalization of $97.90 billion, a PE ratio of 68.14, a P/E/G ratio of 1.34 and a beta of 1.61. The company’s 50-day simple moving average is $2,044.19 and its 200-day simple moving average is $1,836.97. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73.

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.