Farther Finance Advisors LLC Buys 78 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Farther Finance Advisors LLC grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 40.4% during the third quarter, Holdings Channel reports. The institutional investor owned 271 shares of the company’s stock after purchasing an additional 78 shares during the quarter. Farther Finance Advisors LLC’s holdings in MercadoLibre were worth $556,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MELI. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of MercadoLibre by 1,600.0% during the second 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 during the last quarter. Optimum Investment Advisors grew its stake in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares during the last quarter. Financial Connections Group Inc. bought a new position in shares of MercadoLibre during the second quarter valued at about $36,000. Quarry LP bought a new position in shares of MercadoLibre during the second quarter valued at about $43,000. Finally, NBC Securities Inc. grew its stake in shares of MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Barclays raised their target price on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Citigroup raised their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, BTIG Research raised 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. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Stock Performance

Shares of MELI opened at $2,117.30 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average price is $2,055.08 and its 200-day moving average price is $1,819.36. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The stock has a market cap of $107.35 billion, a P/E ratio of 76.52, a P/E/G ratio of 1.26 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.