Mirabella Financial Services LLP Increases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Mirabella Financial Services LLP raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 622.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,159 shares of the company's stock after purchasing an additional 1,860 shares during the period. Mirabella Financial Services LLP's holdings in MercadoLibre were worth $4,430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its position in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company's stock valued at $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors lifted its stake in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company's stock worth $35,000 after buying an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre during the second quarter valued at approximately $36,000. Quarry LP bought a new stake in shares of MercadoLibre during the second quarter valued at approximately $43,000. Finally, Legacy Bridge LLC raised its holdings in MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company's stock worth $47,000 after acquiring an additional 8 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on MELI. StockNews.com downgraded MercadoLibre from a "buy" rating to a "hold" rating in a research note on Saturday, August 10th. BTIG Research reduced their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a report on Thursday, November 7th. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They issued a "buy" rating and a $2,800.00 target price for the company. Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a "positive" rating in a report on Wednesday, August 28th. Finally, Bank of America boosted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a "buy" rating in a report on Thursday, September 12th. Three research 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $2,269.67.

MercadoLibre Stock Performance

MELI traded up $94.95 during midday trading on Monday, reaching $2,099.95. The company had a trading volume of 654,659 shares, compared to its average volume of 369,890. The business has a 50-day moving average of $2,025.17 and a two-hundred day moving average of $1,857.20. 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 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a market cap of $106.46 billion, a P/E ratio of 72.35, a P/E/G ratio of 1.37 and a beta of 1.61.

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.