Plato Investment Management Ltd Buys Shares of 1,396 MercadoLibre, Inc. (NASDAQ:MELI)

Plato Investment Management Ltd bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,396 shares of the company's stock, valued at approximately $2,862,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of MELI. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in MercadoLibre by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company's stock worth $41,794,000 after purchasing an additional 4,658 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in shares of MercadoLibre during the 1st quarter valued at about $661,000. Kingsview Wealth Management LLC raised its position in shares of MercadoLibre by 5.2% during the 1st quarter. Kingsview Wealth Management LLC now owns 365 shares of the company's stock valued at $552,000 after buying an additional 18 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of MercadoLibre by 3.5% in the 1st quarter. Blair William & Co. IL now owns 2,054 shares of the company's stock valued at $3,106,000 after acquiring an additional 70 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its stake in MercadoLibre by 56.2% during the first quarter. Orion Portfolio Solutions LLC now owns 764 shares of the company's stock worth $1,155,000 after acquiring an additional 275 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on MELI. Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a report on Tuesday. Citigroup boosted their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating for the company in a report on Wednesday. Raymond James initiated coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an "outperform" rating and a $2,350.00 price target on the stock. Finally, Wedbush reissued an "outperform" rating and issued a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Three investment 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $2,269.67.

MercadoLibre Stock Down 2.8 %

Shares of MELI stock traded down $54.75 on Thursday, hitting $1,876.20. The stock had a trading volume of 547,070 shares, compared to its average volume of 367,752. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The business has a 50 day moving average price of $2,042.97 and a 200 day moving average price of $1,837.63. The company has a market cap of $95.12 billion, a PE ratio of 68.14, a P/E/G ratio of 1.34 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

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.