MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 691 shares of the company’s stock after acquiring an additional 47 shares during the period. Independent Advisor Alliance’s holdings in MercadoLibre were worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in MercadoLibre by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after acquiring an additional 70,154 shares in the last quarter. Legal & General Group Plc lifted its holdings in MercadoLibre by 3.6% in the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after purchasing an additional 11,265 shares during the period. Royal London Asset Management Ltd. lifted its holdings in MercadoLibre by 17.0% in the second quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after purchasing an additional 40,361 shares during the period. Canada Pension Plan Investment Board grew its position in MercadoLibre by 12.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after buying an additional 27,832 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares during the period. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on MELI shares. Citigroup decreased their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday. Redburn Atlantic started coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Barclays reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. 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 stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,267.67.

MercadoLibre Price Performance

MELI opened at $2,110.00 on Wednesday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $106.97 billion, a P/E ratio of 74.45, a PEG ratio of 1.37 and a beta of 1.61. The stock has a fifty day moving average of $2,025.78 and a 200-day moving average of $1,862.98.

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.