Vinva Investment Management Ltd Acquires 1,267 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Vinva Investment Management Ltd raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 44.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,136 shares of the company’s stock after acquiring an additional 1,267 shares during the quarter. Vinva Investment Management Ltd’s holdings in MercadoLibre were worth $8,540,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors increased its holdings in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares during the last quarter. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre during the 2nd quarter worth $36,000. Legacy Bridge LLC increased its stake in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares during the last quarter. Finally, Quarry LP bought a new stake in MercadoLibre during the second quarter worth about $43,000. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MELI. The Goldman Sachs Group upped their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Susquehanna lifted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Morgan Stanley dropped their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Citigroup decreased their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,044.76 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 business has a fifty day simple moving average of $2,024.62 and a two-hundred day simple moving average of $1,864.25. The firm has a market capitalization of $103.67 billion, a P/E ratio of 72.15, a P/E/G ratio of 1.43 and a beta of 1.61. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

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.