Belpointe Asset Management LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 618 shares of the company’s stock after purchasing an additional 6 shares during the quarter. Belpointe Asset Management LLC’s holdings in MercadoLibre were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of MELI. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of 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 buying an additional 16 shares in the last quarter. First PREMIER Bank purchased a new stake in MercadoLibre during the first quarter valued at about $27,000. Financial Connections Group Inc. bought a new stake in MercadoLibre during the second quarter worth about $36,000. DSM Capital Partners LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $36,000. Finally, Scarborough Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at about $36,000. 87.62% of the stock is currently owned by institutional investors.
MercadoLibre Trading Up 2.3 %
Shares of MELI opened at $2,038.18 on Friday. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,064.76. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The firm’s 50-day moving average price is $1,807.59 and its 200-day moving average price is $1,658.61. The firm has a market capitalization of $103.33 billion, a price-to-earnings ratio of 91.19, a PEG ratio of 1.36 and a beta of 1.60.
Analyst Ratings Changes
Several brokerages have issued reports on MELI. BTIG Research upped their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Citigroup increased their target price on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Cantor Fitzgerald started coverage on shares of MercadoLibre in a research note on Thursday. They issued an “overweight” rating and a $2,530.00 price target for the company. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and boosted their target price for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,141.25.
View Our Latest Analysis on MELI
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.
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