Brown Brothers Harriman & Co. Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Brown Brothers Harriman & Co. increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 188 shares of the company’s stock after buying an additional 28 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in MercadoLibre were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in MELI. B. Riley Wealth Advisors Inc. boosted its holdings in MercadoLibre by 2.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,022 shares of the company’s stock valued at $1,545,000 after purchasing an additional 22 shares during the last quarter. Comerica Bank boosted its holdings in MercadoLibre by 14.4% in the first quarter. Comerica Bank now owns 2,068 shares of the company’s stock valued at $3,127,000 after purchasing an additional 260 shares during the last quarter. Swedbank AB purchased a new stake in MercadoLibre in the first quarter valued at $30,037,000. Cetera Investment Advisers boosted its holdings in MercadoLibre by 290.7% in the first quarter. Cetera Investment Advisers now owns 5,771 shares of the company’s stock valued at $8,726,000 after purchasing an additional 4,294 shares during the last quarter. Finally, Cetera Advisors LLC boosted its holdings in MercadoLibre by 107.3% in the first quarter. Cetera Advisors LLC now owns 1,988 shares of the company’s stock valued at $3,006,000 after purchasing an additional 1,029 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Cantor Fitzgerald lowered their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Raymond James assumed coverage on shares of MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Barclays lowered their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Finally, Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Three equities research 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’s stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,267.67.

MercadoLibre Stock Down 3.1 %

MELI stock opened at $2,044.76 on Thursday. The company has a market cap of $103.67 billion, a price-to-earnings ratio of 72.15, a PEG ratio of 1.43 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The firm has a 50-day moving average of $2,024.62 and a two-hundred day moving average of $1,864.25.

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.