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

Impax Asset Management Group plc purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,784 shares of the company's stock, valued at approximately $3,661,000.

A number of other institutional investors also recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. lifted its stake in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company's stock worth $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors grew its position in shares of MercadoLibre by 750.0% in the 3rd 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 last quarter. Financial Connections Group Inc. acquired a new stake in MercadoLibre during the 2nd quarter worth $36,000. Quarry LP purchased a new stake in MercadoLibre in the second quarter valued at $43,000. Finally, NBC Securities Inc. boosted its stake in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company's stock valued at $55,000 after acquiring an additional 7 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MELI. Barclays reduced 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. Bank of America raised their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a "buy" rating in a research report on Thursday, September 12th. Raymond James assumed coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an "outperform" rating and a $2,350.00 price objective on the stock. Cantor Fitzgerald reduced their target price on shares of 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, Wedbush reissued an "outperform" rating and set a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,269.67.

MercadoLibre Price Performance

MercadoLibre stock traded up $3.80 during midday trading on Friday, reaching $1,880.00. The company's stock had a trading volume of 463,972 shares, compared to its average volume of 368,186. 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 firm has a market capitalization of $95.31 billion, a PE ratio of 66.34, a P/E/G ratio of 1.31 and a beta of 1.61. The stock's 50 day simple moving average is $2,037.61 and its 200 day simple moving average is $1,840.97.

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.