Erste Asset Management GmbH Invests $9.70 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Erste Asset Management GmbH bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,696 shares of the company’s stock, valued at approximately $9,703,000.

Several other institutional investors and hedge funds have also bought and sold shares of MELI. Comerica Bank boosted its stake in MercadoLibre by 14.4% during the first quarter. Comerica Bank now owns 2,068 shares of the company’s stock valued at $3,127,000 after buying an additional 260 shares during the period. Cetera Investment Advisers increased its stake in MercadoLibre by 290.7% in the 1st quarter. Cetera Investment Advisers now owns 5,771 shares of the company’s stock worth $8,726,000 after acquiring an additional 4,294 shares during the last quarter. Cetera Advisors LLC boosted its position in shares of MercadoLibre by 107.3% during the 1st quarter. Cetera Advisors LLC now owns 1,988 shares of the company’s stock valued at $3,006,000 after acquiring an additional 1,029 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of MercadoLibre by 31.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 54 shares of the company’s stock valued at $79,000 after acquiring an additional 13 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of MercadoLibre in the second quarter worth approximately $59,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 2.9 %

Shares of NASDAQ:MELI opened at $1,985.17 on Monday. The stock’s 50-day moving average is $2,020.96 and its 200 day moving average is $1,869.98. The company has a market cap of $100.65 billion, a PE ratio of 70.05, a P/E/G ratio of 1.35 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73.

Analyst Upgrades and Downgrades

MELI has been the subject of several research analyst reports. Bank of America lifted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Redburn Atlantic assumed coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Susquehanna raised their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,267.67.

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.