Moloney Securities Asset Management LLC Reduces Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Moloney Securities Asset Management LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 469 shares of the company’s stock after selling 10 shares during the period. Moloney Securities Asset Management LLC’s holdings in MercadoLibre were worth $962,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rational Advisors LLC lifted its holdings in MercadoLibre by 119.5% during the 3rd quarter. Rational Advisors LLC now owns 3,073 shares of the company’s stock worth $6,306,000 after buying an additional 1,673 shares during the last quarter. Impax Asset Management Group plc acquired a new stake in shares of MercadoLibre during the 3rd quarter valued at approximately $3,661,000. Quintet Private Bank Europe S.A. lifted its stake in MercadoLibre by 11.6% during the third quarter. Quintet Private Bank Europe S.A. now owns 164 shares of the company’s stock worth $336,000 after purchasing an additional 17 shares during the last quarter. QRG Capital Management Inc. bought a new position in MercadoLibre during the third quarter worth $293,000. Finally, Signify Wealth bought a new position in MercadoLibre during the third quarter worth $224,000. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the topic of several research analyst reports. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective on the stock. JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price on the stock. in a research report on Wednesday, October 2nd. Citigroup increased their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley increased their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Price Performance

Shares of MELI opened at $2,090.01 on Wednesday. The firm has a market capitalization of $105.96 billion, a price-to-earnings ratio of 75.53, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The stock’s fifty day moving average is $2,052.64 and its 200-day moving average is $1,817.26.

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.