Bank of Montreal Can Has $33.16 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Bank of Montreal Can reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,059 shares of the company’s stock after selling 1,291 shares during the quarter. Bank of Montreal Can’s holdings in MercadoLibre were worth $33,157,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. grew its position 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 worth $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors grew its position in shares of MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares during the period. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $36,000. Legacy Bridge LLC grew its position in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after purchasing an additional 8 shares during the period. Finally, Quarry LP acquired a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $43,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Down 3.1 %

Shares of MercadoLibre stock opened at $2,044.76 on Friday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock has a market cap of $103.67 billion, a P/E ratio of 72.15, a P/E/G ratio of 1.43 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $2,023.33 and its 200-day moving average is $1,865.50.

Analyst Ratings Changes

MELI has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Citigroup decreased their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, Susquehanna boosted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

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.