Banque Cantonale Vaudoise Boosts Position in MercadoLibre, Inc. (NASDAQ:MELI)

Banque Cantonale Vaudoise raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 48.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 814 shares of the company’s stock after buying an additional 264 shares during the quarter. Banque Cantonale Vaudoise’s holdings in MercadoLibre were worth $1,670,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Planning Capital Management Corp grew its holdings in MercadoLibre by 9.1% during the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after buying an additional 5 shares in the last quarter. Mount Lucas Management LP grew its holdings in shares of MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after purchasing an additional 5 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after purchasing an additional 6 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of MercadoLibre by 0.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after purchasing an additional 6 shares in the last quarter. Finally, Evolutionary Tree Capital Management LLC grew its holdings 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 purchasing an additional 6 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,931.26 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. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The stock has a 50 day moving average price of $2,031.02 and a two-hundred day moving average price of $1,851.83. The company has a market capitalization of $97.91 billion, a P/E ratio of 68.15, a PEG ratio of 1.28 and a beta of 1.61.

Analyst Ratings Changes

Several research analysts have recently commented on MELI shares. Bank of America boosted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Barclays cut their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. BTIG Research cut their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Redburn Atlantic initiated coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Finally, Wedbush restated an “outperform” rating and issued a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Three investment 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’s stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

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.