Impax Asset Management Group plc Makes New $3.66 Million Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Impax Asset Management Group plc bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,784 shares of the company’s stock, valued at approximately $3,661,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in MercadoLibre by 1,600.0% in 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 lifted 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 purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre during the 2nd quarter worth approximately $36,000. Quarry LP purchased a new stake in shares of MercadoLibre in the second quarter valued at approximately $43,000. Finally, NBC Securities Inc. increased its holdings in shares of MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.2 %

Shares of MELI stock opened at $1,880.00 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market capitalization of $95.32 billion, a P/E ratio of 66.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The company has a 50 day moving average price of $2,039.73 and a 200 day moving average price of $1,837.90. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Susquehanna boosted their price objective 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. Raymond James initiated coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective for the company. BTIG Research decreased their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.