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

Mirabella Financial Services LLP grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 622.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MELI. Jennison Associates LLC raised its holdings in MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the period. Legal & General Group Plc raised its stake in MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after buying an additional 11,265 shares during the period. Royal London Asset Management Ltd. lifted its holdings in MercadoLibre by 17.0% during the second quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after acquiring an additional 40,361 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in MercadoLibre by 12.1% in the second quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after acquiring an additional 27,832 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after acquiring an additional 248,181 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,005.00 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market cap of $101.65 billion, a price-to-earnings ratio of 70.75, a P/E/G ratio of 1.37 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 firm’s 50-day simple moving average is $2,025.17 and its 200 day simple moving average is $1,857.20.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MELI. Redburn Atlantic began coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Barclays lowered 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 report on Tuesday, November 12th. 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 report on Thursday, November 7th. JPMorgan Chase & Co. lowered their target price on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Finally, Citigroup boosted their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

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.