Northwest & Ethical Investments L.P. Increases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Northwest & Ethical Investments L.P. boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 9,945 shares of the company’s stock after buying an additional 201 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in MercadoLibre were worth $20,407,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after acquiring an additional 248,181 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in MercadoLibre during the second quarter valued at about $2,913,000. FMR LLC increased its stake in shares of MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of MercadoLibre in the second quarter valued at approximately $121,137,000. Finally, Swedbank AB boosted its holdings in MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after buying an additional 73,336 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent research reports. 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 research report on Wednesday, November 13th. Wedbush reaffirmed an “outperform” rating and set a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. BTIG Research decreased their price objective on shares of 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. Citigroup dropped their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Bank of America increased their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Stock Down 3.1 %

MELI traded down $65.24 during trading on Thursday, reaching $2,044.76. The stock had a trading volume of 282,307 shares, compared to its average volume of 369,615. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The company has a market capitalization of $103.67 billion, a price-to-earnings ratio of 72.15, a P/E/G ratio of 1.43 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock’s 50 day moving average is $2,024.62 and its two-hundred day moving average is $1,864.25.

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.