MercadoLibre, Inc. (NASDAQ:MELI) Given Average Recommendation of “Moderate Buy” by Brokerages

MercadoLibre, Inc. (NASDAQ:MELI) has been given an average recommendation of “Moderate Buy” by the seventeen research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $2,267.67.

MELI has been the subject of several analyst reports. Raymond James began coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. JPMorgan Chase & Co. reduced their price objective 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. BTIG Research cut their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Bank of America lifted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Barclays dropped their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th.

Insider Buying and Selling

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in MercadoLibre by 10.2% in the third quarter. Lord Abbett & CO. LLC now owns 107,525 shares of the company’s stock valued at $220,637,000 after acquiring an additional 9,910 shares in the last quarter. Tidal Investments LLC lifted its stake in MercadoLibre by 59.7% in the third quarter. Tidal Investments LLC now owns 15,829 shares of the company’s stock worth $32,480,000 after acquiring an additional 5,918 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in MercadoLibre during the 3rd quarter worth approximately $977,000. Finally, World Investment Advisors LLC increased its position in shares of MercadoLibre by 35.7% in the 3rd quarter. World Investment Advisors LLC now owns 475 shares of the company’s stock valued at $975,000 after purchasing an additional 125 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Up 0.8 %

NASDAQ:MELI opened at $1,743.29 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $1,945.11 and a 200-day simple moving average of $1,886.06. The company has a market capitalization of $88.38 billion, a P/E ratio of 61.51, a PEG ratio of 1.24 and a beta of 1.57. MercadoLibre has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

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.