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

Premier Fund Managers Ltd increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 40.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Planning Capital Management Corp raised its holdings in shares of MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares during the period. Mount Lucas Management LP raised its stake in shares of MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after purchasing an additional 5 shares during the period. Belpointe Asset Management LLC lifted its holdings in shares of MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after purchasing an additional 6 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares in the last quarter. Finally, Evolutionary Tree Capital Management LLC boosted its position in shares of MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after buying an additional 6 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MELI shares. Bank of America lifted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. BTIG Research reduced their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Citigroup increased their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Three research 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, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Trading Up 0.0 %

MELI stock opened at $1,916.51 on Wednesday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. 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 has a fifty day moving average price of $2,033.32 and a two-hundred day moving average price of $1,851.27. The stock has a market cap of $97.17 billion, a price-to-earnings ratio of 67.63, a price-to-earnings-growth ratio of 1.28 and a beta of 1.61.

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.