Empower Advisory Group LLC Purchases 281 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Empower Advisory Group LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 67.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 696 shares of the company's stock after purchasing an additional 281 shares during the quarter. Empower Advisory Group LLC's holdings in MercadoLibre were worth $1,428,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Raymond James & Associates increased its stake in shares of MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company's stock valued at $57,256,000 after buying an additional 1,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of MercadoLibre by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company's stock valued at $41,794,000 after buying an additional 4,658 shares during the period. Caprock Group LLC increased its stake 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 increased its stake in shares of MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company's stock valued at $74,622,000 after buying an additional 28,494 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new stake in shares of MercadoLibre in the 2nd quarter valued at $875,000. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MELI. Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a research note on Tuesday. Morgan Stanley decreased their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a research note on Monday. The Goldman Sachs Group lifted their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. Raymond James assumed coverage on MercadoLibre in a research note on Friday, September 27th. They set an "outperform" rating and a $2,350.00 price objective for the company. Finally, BTIG Research decreased their price objective on 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. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $2,269.67.

MercadoLibre Stock Down 2.8 %

Shares of MercadoLibre stock traded down $54.75 during trading on Thursday, reaching $1,876.20. The stock had a trading volume of 547,070 shares, compared to its average volume of 367,752. The company has a market capitalization of $95.12 billion, a price-to-earnings ratio of 68.14, a P/E/G ratio of 1.34 and a beta of 1.61. The stock has a fifty day moving average price of $2,042.97 and a two-hundred day moving average price of $1,837.63. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 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.