MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by KBC Group NV

KBC Group NV lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 205.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 26,279 shares of the company’s stock after acquiring an additional 17,677 shares during the period. KBC Group NV’s holdings in MercadoLibre were worth $53,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GQG Partners LLC grew its stake in MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares during the last quarter. International Assets Investment Management LLC boosted its position in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the period. Strategic Financial Concepts LLC purchased a new position in MercadoLibre during the 2nd quarter worth approximately $2,913,000. Finally, Janus Henderson Group PLC lifted its stake in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI opened at $1,876.20 on Friday. The firm’s fifty day simple moving average is $2,042.97 and its two-hundred day simple moving average is $1,837.63. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a market cap of $95.12 billion, a price-to-earnings ratio of 66.20, a PEG ratio of 1.31 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Analyst Ratings Changes

MELI has been the topic of a number of research reports. Morgan Stanley cut their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday. Susquehanna increased their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Bank of America boosted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Three 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

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.