MercadoLibre, Inc. (NASDAQ:MELI) is MayTech Global Investments LLC’s 4th Largest Position

MayTech Global Investments LLC increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 16.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 22,977 shares of the company’s stock after purchasing an additional 3,198 shares during the quarter. MercadoLibre comprises about 6.2% of MayTech Global Investments LLC’s holdings, making the stock its 4th largest position. MayTech Global Investments LLC’s holdings in MercadoLibre were worth $47,148,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. boosted its stake in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors lifted its holdings in shares of 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 during the last quarter. Financial Connections Group Inc. purchased a new position in shares of MercadoLibre during the 2nd quarter worth approximately $36,000. Quarry LP acquired a new stake in MercadoLibre in the 2nd quarter valued at approximately $43,000. Finally, Legacy Bridge LLC lifted its stake in MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 3.1 %

Shares of NASDAQ MELI opened at $2,044.76 on Thursday. The stock has a market cap of $103.67 billion, a PE ratio of 72.15, a price-to-earnings-growth ratio of 1.43 and a beta of 1.61. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The business has a 50-day moving average price of $2,024.62 and a 200 day moving average price of $1,864.25. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MELI. Morgan Stanley dropped their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Citigroup reduced their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, BTIG Research cut 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 research note on Thursday, November 7th. Three 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,267.67.

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.