Brown Capital Management LLC Increases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Brown Capital Management LLC lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,194 shares of the company’s stock after acquiring an additional 608 shares during the quarter. Brown Capital Management LLC owned 0.05% of MercadoLibre worth $53,749,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in shares of MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of MercadoLibre in the second quarter valued at approximately $2,913,000. Janus Henderson Group PLC grew its holdings in shares of MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares in the last quarter. Finally, Capital World Investors increased its stake in MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after buying an additional 95,029 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MELI. Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Raymond James began coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. Citigroup increased their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, Morgan Stanley reduced their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Price Performance

Shares of MELI opened at $1,931.26 on Thursday. The firm has a fifty day moving average price of $2,031.02 and a 200 day moving average price of $1,851.83. The stock has a market cap of $97.91 billion, a PE ratio of 68.15, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre Company 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.