MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Freedom Investment Management Inc.

Freedom Investment Management Inc. grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 63.7% in the third quarter, HoldingsChannel reports. The fund owned 632 shares of the company’s stock after buying an additional 246 shares during the period. Freedom Investment Management Inc.’s holdings in MercadoLibre were worth $1,297,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the business. Cynosure Group LLC acquired a new position in MercadoLibre during the 3rd quarter worth $483,000. Townsquare Capital LLC boosted its position in MercadoLibre by 4.7% during the 3rd quarter. Townsquare Capital LLC now owns 1,782 shares of the company’s stock worth $3,657,000 after acquiring an additional 80 shares during the period. Quantbot Technologies LP raised its stake in shares of MercadoLibre by 29.1% in the 3rd quarter. Quantbot Technologies LP now owns 6,328 shares of the company’s stock worth $12,985,000 after buying an additional 1,425 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of MercadoLibre by 2.0% in the 3rd quarter. D.A. Davidson & CO. now owns 2,674 shares of the company’s stock worth $5,487,000 after buying an additional 52 shares in the last quarter. Finally, FMR LLC raised its stake in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MELI shares. Cantor Fitzgerald dropped their price objective 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. Raymond James started coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. The Goldman Sachs Group boosted their price objective 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. Finally, Citigroup dropped their price objective 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 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Stock Down 3.1 %

NASDAQ:MELI opened at $2,044.76 on Thursday. The firm has a market capitalization of $103.67 billion, a price-to-earnings ratio of 72.15, a PEG ratio of 1.43 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. 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’s fifty day moving average price is $2,024.62 and its 200 day moving average price is $1,864.25.

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.