Meeder Advisory Services Inc. Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Meeder Advisory Services Inc. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 706 shares of the company’s stock after buying an additional 39 shares during the quarter. Meeder Advisory Services Inc.’s holdings in MercadoLibre were worth $1,449,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the period. Optimum Investment Advisors raised its stake in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. purchased a new position in MercadoLibre in the 2nd quarter worth approximately $36,000. Quarry LP bought a new position in MercadoLibre in the 2nd quarter worth approximately $43,000. Finally, NBC Securities Inc. grew its holdings in MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of research reports. Cantor Fitzgerald dropped their target price 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. Redburn Atlantic began coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Susquehanna increased their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Wedbush reaffirmed an “outperform” rating and issued a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Finally, Citigroup raised their target price on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Stock Performance

MELI stock opened at $1,916.12 on Tuesday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The firm has a market cap 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 business’s fifty day simple moving average is $2,035.34 and its two-hundred day simple moving average is $1,849.25. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre Company 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.