iA Global Asset Management Inc. Has $12.49 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

iA Global Asset Management Inc. grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,085 shares of the company’s stock after buying an additional 114 shares during the period. iA Global Asset Management Inc.’s holdings in MercadoLibre were worth $12,486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors lifted its holdings in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares during the period. Financial Connections Group Inc. acquired a new stake in MercadoLibre during the 2nd quarter worth $36,000. Legacy Bridge LLC raised its position in shares of MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $43,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,947.18 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a market cap of $98.72 billion, a price-to-earnings ratio of 68.71, a PEG ratio of 1.35 and a beta of 1.57. The stock has a fifty day moving average price of $2,009.14 and a 200-day moving average price of $1,874.33.

Insider Buying and Selling

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on MELI. Wedbush restated an “outperform” rating and set a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Bank of America raised their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. 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 research report on Wednesday, November 13th. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Susquehanna lifted their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Three 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,267.67.

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.