Dorsey Wright & Associates Has $3.78 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Dorsey Wright & Associates raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 12.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,844 shares of the company’s stock after buying an additional 208 shares during the period. Dorsey Wright & Associates’ holdings in MercadoLibre were worth $3,784,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Wedbush restated an “outperform” rating and issued a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. BTIG Research lowered their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Citigroup reduced their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Barclays lowered their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,947.18 on Friday. The firm’s 50 day simple moving average is $2,006.79 and its 200 day simple moving average is $1,876.16. The firm has a market capitalization of $98.72 billion, a price-to-earnings ratio of 68.71, a P/E/G ratio of 1.35 and a beta of 1.57. 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 1 year low of $1,324.99 and a 1 year high of $2,161.73.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

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.