Entropy Technologies LP Purchases Shares of 2,728 MercadoLibre, Inc. (NASDAQ:MELI)

Entropy Technologies LP purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,728 shares of the company’s stock, valued at approximately $5,598,000. MercadoLibre accounts for about 0.6% of Entropy Technologies LP’s investment portfolio, making the stock its 28th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. lifted its stake in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the last quarter. Optimum Investment Advisors increased its holdings in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. purchased a new position in MercadoLibre in the 2nd quarter valued at $36,000. Quarry LP purchased a new position in MercadoLibre in the 2nd quarter valued at $43,000. Finally, NBC Securities Inc. boosted 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 acquiring an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,961.16 on Tuesday. The firm has a market capitalization of $99.42 billion, a PE ratio of 69.20, a P/E/G ratio of 1.15 and a beta of 1.61. 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 business has a 50-day moving average of $2,046.45 and a two-hundred day moving average of $1,828.74. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

Analyst Ratings Changes

MELI has been the topic of a number of recent analyst reports. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Redburn Atlantic started coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Barclays upped their price target on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Morgan Stanley reduced their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday. Finally, Wedbush reiterated an “outperform” rating and set a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,306.33.

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.