D.A. Davidson & CO. Buys 52 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

D.A. Davidson & CO. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,674 shares of the company’s stock after buying an additional 52 shares during the quarter. D.A. Davidson & CO.’s holdings in MercadoLibre were worth $5,487,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the last quarter. Optimum Investment Advisors lifted its position in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new position in MercadoLibre in the 2nd quarter valued at approximately $36,000. Quarry LP purchased a new stake in MercadoLibre during the 2nd quarter valued at $43,000. Finally, Legacy Bridge LLC increased its holdings in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective 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. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Citigroup lowered their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday. Raymond James initiated coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. Finally, Susquehanna increased their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Three equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Trading Down 3.1 %

MercadoLibre stock opened at $2,044.76 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The firm 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 firm has a 50 day moving average of $2,024.62 and a 200 day moving average of $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.