West Family Investments Inc. Acquires Shares of 111 MercadoLibre, Inc. (NASDAQ:MELI)

West Family Investments Inc. bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, Holdings Channel reports. The fund bought 111 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Raymond James & Associates raised its stake in MercadoLibre by 4.8% during the second 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. KBC Group NV boosted its stake in MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Caprock Group LLC grew its position in MercadoLibre by 143.7% during the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after purchasing an additional 342 shares during the last quarter. Sarasin & Partners LLP grew its position in MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares during the last quarter. Finally, Privium Fund Management UK Ltd bought a new stake in MercadoLibre during the 2nd quarter valued at about $875,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,916.51 on Wednesday. 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 market capitalization of $97.17 billion, a price-to-earnings ratio of 67.63, a price-to-earnings-growth ratio of 1.28 and a beta of 1.61. The firm has a 50 day moving average of $2,033.32 and a 200 day moving average of $1,851.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MELI shares. Citigroup increased their price target on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Cantor Fitzgerald cut their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Redburn Atlantic began coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. Wedbush reaffirmed an “outperform” rating and set a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Finally, Bank of America lifted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

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.