Varma Mutual Pension Insurance Co increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 4.0% in the second quarter, Holdings Channel.com reports. The fund owned 7,721 shares of the company’s stock after purchasing an additional 300 shares during the period. Varma Mutual Pension Insurance Co’s holdings in MercadoLibre were worth $13,106,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Interchange Capital Partners LLC lifted its stake in MercadoLibre by 2.1% in the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after purchasing an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC grew its position in shares of MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after purchasing an additional 5 shares in the last quarter. Mitchell Capital Management Co. grew its position in shares of MercadoLibre by 0.4% during the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after purchasing an additional 5 shares in the last quarter. Strategic Advisors LLC lifted its position in shares of MercadoLibre by 0.4% in the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock worth $2,564,000 after buying an additional 5 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its stake in MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after buying an additional 5 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.
MercadoLibre Stock Performance
NASDAQ MELI opened at $1,922.73 on Monday. The business’s 50 day moving average price is $1,793.05 and its 200-day moving average price is $1,773.33. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a market cap of $97.48 billion, a P/E ratio of 52.29, a P/E/G ratio of 1.32 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12.
Wall Street Analyst Weigh In
A number of research firms have issued reports on MELI. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research note on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Citigroup boosted their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.
Check Out Our Latest Analysis on MELI
About MercadoLibre
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
Featured Articles
- Five stocks we like better than MercadoLibre
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI – Free Report).
Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.
