Harbour Investments Inc. Sells 67 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Harbour Investments Inc. lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 7.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 822 shares of the company’s stock after selling 67 shares during the quarter. Harbour Investments Inc.’s holdings in MercadoLibre were worth $1,687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. boosted its holdings 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 last quarter. Optimum Investment Advisors raised its position in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares during the period. Financial Connections Group Inc. bought a new position in MercadoLibre during the 2nd quarter worth approximately $36,000. Quarry LP acquired a new position in MercadoLibre during the second quarter valued at approximately $43,000. Finally, NBC Securities Inc. increased its stake in 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 in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MELI has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a report on Wednesday. Bank of America raised their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. 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. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Three 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 stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,930.95 on Thursday. The stock’s 50-day simple moving average is $2,044.19 and its 200 day simple moving average is $1,836.97. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. 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 company has a market cap of $97.90 billion, a P/E ratio of 68.14, a P/E/G ratio of 1.34 and a beta of 1.61.

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.