KBC Group NV Purchases 17,677 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

KBC Group NV boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 205.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,279 shares of the company’s stock after purchasing an additional 17,677 shares during the period. KBC Group NV owned about 0.05% of MercadoLibre worth $53,923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MELI. Capital World Investors grew its holdings in shares of MercadoLibre by 12.7% in the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares during the last quarter. GQG Partners LLC boosted its position in MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD grew its stake 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 acquiring an additional 232,787 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of MercadoLibre by 3.6% during the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after acquiring an additional 11,265 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 topic of several research analyst reports. BTIG Research dropped their price objective 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. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Susquehanna lifted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Wedbush reaffirmed an “outperform” rating and issued a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Finally, StockNews.com downgraded 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Stock Down 2.8 %

MercadoLibre stock opened at $1,876.20 on Friday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The business has a fifty day moving average price of $2,042.97 and a 200-day moving average price of $1,837.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market capitalization of $95.12 billion, a price-to-earnings ratio of 66.20, a PEG ratio of 1.31 and a beta of 1.61.

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.