MercadoLibre, Inc. (NASDAQ:MELI) is Parametrica Management Ltd's 6th Largest Position

Parametrica Management Ltd trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 30.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,816 shares of the company's stock after selling 781 shares during the quarter. MercadoLibre makes up about 4.4% of Parametrica Management Ltd's portfolio, making the stock its 6th biggest holding. Parametrica Management Ltd's holdings in MercadoLibre were worth $3,726,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Capital World Investors boosted its stake in MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company's stock worth $1,278,738,000 after purchasing an additional 95,029 shares during the last quarter. GQG Partners LLC boosted its stake in MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company's stock worth $1,201,679,000 after purchasing an additional 648,198 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company's stock worth $1,167,073,000 after purchasing an additional 232,787 shares during the last quarter. Janus Henderson Group PLC boosted its stake in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company's stock worth $557,225,000 after purchasing an additional 132,028 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company's stock worth $531,755,000 after purchasing an additional 11,265 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MELI has been the topic of several analyst reports. BTIG Research reduced their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Raymond James initiated coverage on MercadoLibre in a report on Friday, September 27th. They set an "outperform" rating and a $2,350.00 price target on the stock. 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 report on Tuesday, October 22nd. Barclays reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating on the stock in a report on Tuesday. 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 analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,269.67.

MercadoLibre Stock Down 2.3 %

MELI traded down $46.44 on Wednesday, reaching $1,930.95. The company's stock had a trading volume of 456,039 shares, compared to its average volume of 366,937. The stock has a 50 day moving average of $2,044.19 and a two-hundred day moving average of $1,836.97. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $97.90 billion, a price-to-earnings ratio of 68.03, a P/E/G ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

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.