United Capital Financial Advisors LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 794 shares of the company’s stock, valued at approximately $1,348,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of MELI. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the 2nd quarter valued at $29,000. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre in the fourth quarter valued at about $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre in the 4th quarter valued at about $28,000. Finally, Curio Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at approximately $30,000. Institutional investors own 87.62% of the company’s stock.
MercadoLibre Price Performance
Shares of NASDAQ:MELI opened at $1,966.25 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $1,824.45 and its 200 day moving average is $1,772.36. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a market cap of $99.69 billion, a PE ratio of 53.47, a price-to-earnings-growth ratio of 1.35 and a beta of 1.34.
Analyst Upgrades and Downgrades
MELI has been the subject of a number of recent research reports. Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,272.00.
Check Out Our Latest Research Report on MercadoLibre
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 Stories
- Five stocks we like better than MercadoLibre
- From SaaS-pocalypse to Perfect Storm: Workday’s AI Growth Story Strengthens
- These 3 GARP Stocks Show Why Growth and Value Do Not Have to Clash
- Venture Into High-Volatility Corners of the Market With These 3 ETFs
- 3 Retail Stocks to Watch After a Big Consumer Earnings Week
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.
