MercadoLibre, Inc. (NASDAQ:MELI) Position Increased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 11.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 426 shares of the company’s stock after buying an additional 43 shares during the period. Kingsview Wealth Management LLC’s holdings in MercadoLibre were worth $874,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of MELI. Vanguard Group Inc. lifted its holdings in shares of MercadoLibre by 4.1% during the first quarter. Vanguard Group Inc. now owns 189,860 shares of the company’s stock valued at $287,061,000 after purchasing an additional 7,468 shares during the last quarter. Dynasty Wealth Management LLC acquired a new position in shares of MercadoLibre in the first quarter worth about $259,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of MercadoLibre by 2.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,022 shares of the company’s stock worth $1,545,000 after buying an additional 22 shares during the period. Comerica Bank increased its position in shares of MercadoLibre by 14.4% in the first quarter. Comerica Bank now owns 2,068 shares of the company’s stock worth $3,127,000 after acquiring an additional 260 shares in the last quarter. Finally, Beacon Capital Management LLC raised its holdings in shares of MercadoLibre by 82.4% during the first quarter. Beacon Capital Management LLC now owns 62 shares of the company’s stock valued at $94,000 after acquiring an additional 28 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Up 0.5 %

Shares of MELI stock opened at $2,110.00 on Wednesday. The stock’s 50 day simple moving average is $2,025.78 and its 200 day simple moving average is $1,862.98. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $106.97 billion, a price-to-earnings ratio of 74.45, a PEG ratio of 1.37 and a beta of 1.61.

Analysts Set New Price Targets

Several equities analysts have weighed in on MELI shares. Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Wedbush reaffirmed an “outperform” rating and set a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Finally, Citigroup reduced their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,267.67.

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.