Healthcare of Ontario Pension Plan Trust Fund Purchases 31,584 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Healthcare of Ontario Pension Plan Trust Fund boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 92.4% during the 3rd quarter, Holdings Channel reports. The fund owned 65,776 shares of the company’s stock after buying an additional 31,584 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in MercadoLibre were worth $134,970,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Planning Capital Management Corp raised its stake in shares of MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the last quarter. Mount Lucas Management LP raised its stake in shares of MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after purchasing an additional 5 shares during the last quarter. Belpointe Asset Management LLC raised its stake in shares of MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after purchasing an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after purchasing an additional 6 shares during the last quarter. Finally, Evolutionary Tree Capital Management LLC raised its stake in shares of MercadoLibre by 0.3% in the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after purchasing an additional 6 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,110.00 on Wednesday. The stock has a fifty day simple moving average of $2,025.78 and a two-hundred day simple moving average of $1,862.98. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The firm has a market cap of $106.98 billion, a price-to-earnings ratio of 74.45, a price-to-earnings-growth 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MELI. Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Raymond James started coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target for the company. JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Three research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

About MercadoLibre

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.