L & S Advisors Inc Sells 133 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

L & S Advisors Inc reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 11.5% during the third quarter, HoldingsChannel.com reports. The fund owned 1,020 shares of the company’s stock after selling 133 shares during the quarter. L & S Advisors Inc’s holdings in MercadoLibre were worth $2,093,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James & Associates increased its holdings in MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after acquiring an additional 1,604 shares during the last quarter. KBC Group NV increased its holdings in shares of MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after buying an additional 17,677 shares during the last quarter. Caprock Group LLC increased its holdings in shares of MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after buying an additional 342 shares during the last quarter. Sarasin & Partners LLP increased its holdings in shares of MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after buying an additional 28,494 shares during the last quarter. Finally, Privium Fund Management UK Ltd bought a new position in MercadoLibre during the 2nd quarter valued at about $875,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Bank of America upped their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Susquehanna upped their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, BTIG Research cut their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Trading Up 0.8 %

Shares of MercadoLibre stock opened at $1,931.26 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 firm has a fifty day moving average price of $2,031.02 and a 200 day moving average price of $1,851.83. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. 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.

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.