Meeder Advisory Services Inc. Buys 39 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Meeder Advisory Services Inc. raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 706 shares of the company’s stock after purchasing an additional 39 shares during the quarter. Meeder Advisory Services Inc.’s holdings in MercadoLibre were worth $1,449,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MELI. Semus Wealth Partners LLC raised its stake in MercadoLibre by 20.2% in the third quarter. Semus Wealth Partners LLC now owns 862 shares of the company’s stock worth $1,769,000 after buying an additional 145 shares in the last quarter. CAP Partners LLC raised its position in shares of MercadoLibre by 4.5% in the 3rd quarter. CAP Partners LLC now owns 324 shares of the company’s stock worth $665,000 after acquiring an additional 14 shares in the last quarter. J. W. Coons Advisors LLC purchased a new position in shares of MercadoLibre in the 3rd quarter valued at approximately $205,000. Thrivent Financial for Lutherans boosted its position in shares of MercadoLibre by 11.9% during the third quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after purchasing an additional 21 shares in the last quarter. Finally, Mount Lucas Management LP grew its stake in MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Up 1.9 %

Shares of NASDAQ:MELI opened at $1,916.12 on Tuesday. The stock’s 50-day simple moving average is $2,035.34 and its two-hundred day simple moving average is $1,849.25. The stock has a market capitalization of $97.15 billion, a price-to-earnings ratio of 67.61, a PEG ratio of 1.28 and a beta of 1.61. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

Wall Street Analyst Weigh In

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

MercadoLibre 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.