MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Quest Partners LLC

Quest Partners LLC reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 7.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 495 shares of the company’s stock after selling 38 shares during the period. Quest Partners LLC’s holdings in MercadoLibre were worth $1,016,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC increased its holdings in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in MercadoLibre in the second quarter valued at $2,913,000. Janus Henderson Group PLC increased its holdings in MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares during the last quarter. Finally, Capital World Investors increased its holdings in MercadoLibre by 12.7% in the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after buying an additional 95,029 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,931.26 on Thursday. 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 52-week low of $1,324.99 and a 52-week high of $2,161.73. The business’s 50-day moving average price is $2,031.02 and its 200 day moving average price is $1,851.83. The firm has a market cap of $97.91 billion, a P/E ratio of 68.15, a P/E/G ratio of 1.28 and a beta of 1.61.

Analyst Ratings Changes

Several research firms recently commented on MELI. Morgan Stanley dropped their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Raymond James started coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective on the stock. Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Finally, StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. 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 company’s stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

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.