Harbour Investments Inc. Cuts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Harbour Investments Inc. trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 822 shares of the company’s stock after selling 67 shares during the quarter. Harbour Investments Inc.’s holdings in MercadoLibre were worth $1,687,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GQG Partners LLC boosted its stake in MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after acquiring an additional 648,198 shares in the last quarter. International Assets Investment Management LLC grew its stake in MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after buying an additional 248,181 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in MercadoLibre in the second quarter valued at about $2,913,000. Finally, Janus Henderson Group PLC boosted its holdings in MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MELI shares. Citigroup increased their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. BTIG Research lowered their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut 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. Susquehanna lifted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. 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 report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,930.95 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market capitalization of $97.90 billion, a price-to-earnings ratio of 68.14, a PEG ratio of 1.34 and a beta of 1.61. The firm’s 50 day simple moving average is $2,044.19 and its 200-day simple moving average is $1,836.97. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

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.