Saturna Capital Corp Sells 80 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Saturna Capital Corp cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,910 shares of the company’s stock after selling 80 shares during the quarter. Saturna Capital Corp’s holdings in MercadoLibre were worth $5,971,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

MELI has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Morgan Stanley reduced their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday. Redburn Atlantic initiated coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective on the stock. Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,286.33.

MercadoLibre Trading Up 0.8 %

Shares of MELI opened at $1,977.39 on Wednesday. The stock has a market capitalization of $100.25 billion, a PE ratio of 69.77, a P/E/G ratio of 1.31 and a beta of 1.61. The company’s fifty day moving average is $2,044.19 and its 200 day moving average is $1,836.97. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

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.