Northstar Asset Management Inc. Has $209,000 Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Northstar Asset Management Inc. lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 51.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102 shares of the company’s stock after selling 108 shares during the quarter. Northstar Asset Management Inc.’s holdings in MercadoLibre were worth $209,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MELI. Raymond James & Associates boosted its holdings in shares of MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after buying an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in MercadoLibre by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after acquiring an additional 4,658 shares in the last quarter. Caprock Group LLC grew its stake in MercadoLibre by 143.7% during the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after buying an additional 342 shares in the last quarter. Sarasin & Partners LLP increased its stake in MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares during the last quarter. Finally, Privium Fund Management UK Ltd acquired a new position in shares of MercadoLibre during the 2nd quarter worth $875,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Up 1.3 %

NASDAQ:MELI opened at $2,090.01 on Wednesday. The firm has a market capitalization of $105.96 billion, a P/E ratio of 75.53, a P/E/G ratio of 1.25 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average of $2,052.64 and a 200 day moving average of $1,817.26. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MELI. Susquehanna boosted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. 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. Citigroup upped their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $2,530.00 price target on shares of MercadoLibre in a research report on Monday, October 7th. Three investment 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $2,301.67.

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.