Mirabella Financial Services LLP Buys 1,860 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Mirabella Financial Services LLP lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 622.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,159 shares of the company’s stock after purchasing an additional 1,860 shares during the quarter. Mirabella Financial Services LLP’s holdings in MercadoLibre were worth $4,430,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MELI. Migdal Insurance & Financial Holdings Ltd. increased its holdings in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors boosted its position in shares of MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares in the last quarter. Financial Connections Group Inc. acquired a new position in MercadoLibre during the second quarter valued at approximately $36,000. Quarry LP bought a new stake in MercadoLibre during the second quarter worth $43,000. Finally, Legacy Bridge LLC boosted its holdings in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after purchasing an additional 8 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the subject of a number of research analyst reports. Citigroup boosted their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wedbush reissued an “outperform” rating and issued a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Barclays dropped their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, BTIG Research cut their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

MercadoLibre Stock Up 1.9 %

Shares of MercadoLibre stock opened at $2,005.00 on Monday. The stock’s 50-day moving average is $2,025.17 and its 200 day moving average is $1,857.20. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The firm has a market cap of $101.65 billion, a price-to-earnings ratio of 70.75, a PEG ratio of 1.37 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

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.