MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.1% in the third quarter, HoldingsChannel reports. The firm owned 469 shares of the company’s stock after selling 10 shares during the period. Moloney Securities Asset Management LLC’s holdings in MercadoLibre were worth $962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James & Associates boosted its position in shares of MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after purchasing an additional 1,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of MercadoLibre by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares during the period. Caprock Group LLC boosted its position in shares of MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after purchasing an additional 342 shares during the period. Sarasin & Partners LLP boosted its position in shares of MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $875,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MELI. Raymond James began coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $2,530.00 price objective on shares of MercadoLibre in a research report on Monday, October 7th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Morgan Stanley raised their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Citigroup raised their price objective on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Three research 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Stock Up 1.3 %

Shares of MELI stock opened at $2,090.01 on Wednesday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a market capitalization of $105.96 billion, a price-to-earnings ratio of 75.53, a PEG ratio of 1.25 and a beta of 1.61. The stock’s 50 day simple moving average is $2,052.64 and its 200 day simple moving average is $1,817.26. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28.

About MercadoLibre

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.