White Knight Strategic Wealth Advisors LLC Decreases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

White Knight Strategic Wealth Advisors LLC cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 828 shares of the company’s stock after selling 18 shares during the quarter. MercadoLibre accounts for approximately 1.5% of White Knight Strategic Wealth Advisors LLC’s holdings, making the stock its 17th largest position. White Knight Strategic Wealth Advisors LLC’s holdings in MercadoLibre were worth $1,699,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Atlantic Union Bankshares Corp bought a new position in MercadoLibre during the 3rd quarter valued at about $224,000. Skye Global Management LP raised its holdings in shares of MercadoLibre by 168.3% during the third quarter. Skye Global Management LP now owns 3,380 shares of the company’s stock valued at $6,936,000 after purchasing an additional 2,120 shares during the last quarter. Hantz Financial Services Inc. lifted its position in MercadoLibre by 15.4% during the third quarter. Hantz Financial Services Inc. now owns 2,310 shares of the company’s stock valued at $4,740,000 after purchasing an additional 308 shares during the period. Northwest & Ethical Investments L.P. boosted its holdings in MercadoLibre by 2.1% in the third quarter. Northwest & Ethical Investments L.P. now owns 9,945 shares of the company’s stock worth $20,407,000 after purchasing an additional 201 shares during the last quarter. Finally, Vinva Investment Management Ltd grew its position in MercadoLibre by 44.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 4,136 shares of the company’s stock worth $8,540,000 after purchasing an additional 1,267 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 2.9 %

Shares of MercadoLibre stock opened at $1,985.17 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $100.64 billion, a P/E ratio of 70.05, a P/E/G ratio of 1.39 and a beta of 1.61. The company has a fifty day moving average of $2,020.96 and a 200 day moving average of $1,867.64.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Citigroup lowered their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Bank of America boosted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Three 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

MercadoLibre 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.