MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Boosted by Qsemble Capital Management LP

Qsemble Capital Management LP boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 9.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 204 shares of the company’s stock after acquiring an additional 18 shares during the quarter. Qsemble Capital Management LP’s holdings in MercadoLibre were worth $419,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC grew its position in MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after buying an additional 70,154 shares in the last quarter. Legal & General Group Plc lifted its holdings in MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after acquiring an additional 11,265 shares during the last quarter. Royal London Asset Management Ltd. lifted its holdings in MercadoLibre by 17.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock valued at $455,560,000 after acquiring an additional 40,361 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings 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 acquiring an additional 27,832 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after acquiring an additional 248,181 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the subject of a number of research analyst reports. Redburn Atlantic initiated coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Raymond James initiated coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. BTIG Research cut their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Bank of America upped their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, Morgan Stanley cut their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Price Performance

Shares of MELI opened at $2,044.76 on Thursday. The company has a market capitalization of $103.67 billion, a price-to-earnings ratio of 72.15, a P/E/G ratio of 1.43 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The business’s 50-day moving average is $2,024.62 and its 200-day moving average is $1,864.25.

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.