Parvin Asset Management LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) in the 2nd quarter, Holdings Channel reports. The firm bought 606 shares of the company’s stock, valued at approximately $1,029,000.
A number of other large investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new stake in MercadoLibre in the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Purpose Unlimited Inc. purchased a new position in MercadoLibre during the 4th quarter valued at $28,000. Wedbush Fund Advisers LLC bought a new stake in shares of MercadoLibre during the second quarter worth $29,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the second quarter valued at $29,000. 87.62% of the stock is owned by hedge funds and other institutional investors.
MercadoLibre Price Performance
Shares of MELI opened at $1,950.44 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The company has a 50 day moving average price of $1,811.91 and a 200-day moving average price of $1,771.27. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The stock has a market capitalization of $98.89 billion, a PE ratio of 53.04, a PEG ratio of 1.37 and a beta of 1.34.
Analyst Ratings Changes
Several research firms recently commented on MELI. Citigroup raised 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 note on Wednesday, July 15th. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. Cantor Fitzgerald lifted their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Scotiabank dropped their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. Finally, Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.
View Our Latest Stock Analysis on MELI
MercadoLibre Company Profile
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.
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