Impax Asset Management Group plc Acquires New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Impax Asset Management Group plc purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,784 shares of the company’s stock, valued at approximately $3,661,000.

Other institutional investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. lifted its stake in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares during the last quarter. Optimum Investment Advisors lifted its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares during the last quarter. Financial Connections Group Inc. purchased a new position in MercadoLibre in the second quarter worth approximately $36,000. Quarry LP purchased a new position in MercadoLibre in the second quarter worth approximately $43,000. Finally, NBC Securities Inc. lifted its stake in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after acquiring an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,880.00 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The stock has a market cap of $95.32 billion, a PE ratio of 66.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.61. The firm’s fifty day simple moving average is $2,039.73 and its 200-day simple moving average is $1,837.90.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MELI shares. Bank of America lifted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. JPMorgan Chase & Co. reduced their price objective on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday. Susquehanna boosted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Wedbush restated an “outperform” rating and set a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Finally, Citigroup boosted their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

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.