Cerity Partners LLC Increases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Cerity Partners LLC grew its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 25.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,875 shares of the company's stock after purchasing an additional 993 shares during the period. Cerity Partners LLC's holdings in MercadoLibre were worth $10,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James & Associates raised its position in MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company's stock valued at $57,256,000 after purchasing an additional 1,604 shares during the period. KBC Group NV grew its stake in shares of MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company's stock valued at $53,923,000 after buying an additional 17,677 shares in the last quarter. Caprock Group LLC raised its holdings in shares of MercadoLibre by 143.7% in the 2nd quarter. Caprock Group LLC now owns 580 shares of the company's stock valued at $955,000 after buying an additional 342 shares during the period. Sarasin & Partners LLP lifted its stake in MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company's stock worth $74,622,000 after acquiring an additional 28,494 shares in the last quarter. Finally, Parnassus Investments LLC boosted its holdings in MercadoLibre by 3.0% during the 3rd quarter. Parnassus Investments LLC now owns 14,903 shares of the company's stock valued at $30,580,000 after acquiring an additional 436 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MELI traded down $51.97 on Wednesday, hitting $2,058.03. 94,814 shares of the company were exchanged, compared to its average volume of 368,769. 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 debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market capitalization of $104.34 billion, a P/E ratio of 74.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.61. The business's fifty day moving average is $2,025.78 and its 200 day moving average is $1,862.98.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. JPMorgan Chase & Co. reduced their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating on the stock in a report on Wednesday, November 13th. BTIG Research dropped their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Finally, Susquehanna boosted their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a "positive" rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $2,267.67.

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.