Pittenger & Anderson Inc. Raises Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Pittenger & Anderson Inc. boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,586 shares of the company’s stock after acquiring an additional 155 shares during the quarter. Pittenger & Anderson Inc.’s holdings in MercadoLibre were worth $5,306,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of MercadoLibre by 1,600.0% during the 2nd 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 in the last quarter. Optimum Investment Advisors grew its position in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares during the period. Financial Connections Group Inc. purchased a new position in MercadoLibre in the second quarter valued at $36,000. Quarry LP acquired a new position in shares of MercadoLibre in the second quarter worth about $43,000. Finally, NBC Securities Inc. boosted its stake in shares of MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after acquiring an additional 7 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent analyst reports. BTIG Research lifted their price target on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, October 7th. The Goldman Sachs Group boosted their price target 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. Finally, JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective on the stock. in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

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.