Rational Advisors LLC Raises Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Rational Advisors LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 119.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,073 shares of the company’s stock after acquiring an additional 1,673 shares during the quarter. MercadoLibre makes up approximately 0.6% of Rational Advisors LLC’s holdings, making the stock its 25th largest position. Rational Advisors LLC’s holdings in MercadoLibre were worth $6,306,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MELI. Impax Asset Management Group plc bought a new stake in MercadoLibre during the 3rd quarter valued at $3,661,000. Quintet Private Bank Europe S.A. increased its holdings in shares of MercadoLibre by 11.6% during the third quarter. Quintet Private Bank Europe S.A. now owns 164 shares of the company’s stock valued at $336,000 after purchasing an additional 17 shares during the period. QRG Capital Management Inc. acquired a new stake in MercadoLibre in the third quarter worth about $293,000. Signify Wealth bought a new position in MercadoLibre in the 3rd quarter valued at about $224,000. Finally, National Pension Service increased its stake in MercadoLibre by 11.5% during the 3rd quarter. National Pension Service now owns 120,599 shares of the company’s stock valued at $247,464,000 after buying an additional 12,475 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,063.70 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The firm has a market cap of $104.63 billion, a PE ratio of 74.58, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The business has a fifty day moving average of $2,051.56 and a 200-day moving average of $1,812.10.

Analyst Ratings Changes

Several research analysts recently weighed in on MELI shares. Raymond James began coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. BTIG Research increased their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Morgan Stanley lifted their price target on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Citigroup raised their price objective 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. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

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.