B. Metzler seel. Sohn & Co. Holding AG Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, HoldingsChannel.com reports. The firm bought 12,870 shares of the company’s stock, valued at approximately $26,403,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Planning Capital Management Corp raised its stake in shares of MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after acquiring an additional 5 shares during the last quarter. Mount Lucas Management LP raised its stake in shares of MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after acquiring an additional 5 shares during the last quarter. Belpointe Asset Management LLC raised its stake in shares of MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after acquiring an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of MercadoLibre by 0.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after acquiring an additional 6 shares during the last quarter. Finally, Evolutionary Tree Capital Management LLC raised its stake in shares of MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after acquiring an additional 6 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MELI shares. Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Morgan Stanley decreased their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Raymond James began coverage on shares of 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 decreased their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Finally, Bank of America increased their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Trading Up 1.9 %

NASDAQ:MELI opened at $1,916.12 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $97.15 billion, a price-to-earnings ratio of 67.61, a PEG ratio of 1.28 and a beta of 1.61. The firm has a fifty day simple moving average of $2,035.34 and a two-hundred day simple moving average of $1,849.25. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

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.