Alterna Wealth Management Inc. Sells 39 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Alterna Wealth Management Inc. lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 28.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 99 shares of the company’s stock after selling 39 shares during the period. Alterna Wealth Management Inc.’s holdings in MercadoLibre were worth $203,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. raised 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 valued at $28,000 after purchasing an additional 16 shares during the period. Optimum Investment Advisors grew its stake in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre in the 2nd quarter worth $36,000. Quarry LP bought a new stake in shares of MercadoLibre in the second quarter valued at about $43,000. Finally, NBC Securities Inc. lifted its stake in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after acquiring an additional 7 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MELI shares. Cantor Fitzgerald restated an “overweight” rating and issued a $2,530.00 price target on shares of MercadoLibre in a report on Monday, October 7th. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a research report on Wednesday, October 2nd. Susquehanna boosted their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, BTIG Research upped their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Trading Up 0.4 %

Shares of MercadoLibre stock opened at $2,063.70 on Tuesday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The stock has a market cap of $104.63 billion, a P/E ratio of 74.58, a P/E/G ratio of 1.25 and a beta of 1.61. The stock’s 50 day simple moving average is $2,051.56 and its 200-day simple moving average is $1,812.10.

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.