Impax Asset Management Group plc Purchases New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Impax Asset Management Group plc purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, Holdings Channel reports. The institutional investor purchased 1,784 shares of the company’s stock, valued at approximately $3,661,000.

A number of other institutional investors also recently modified their holdings of MELI. GQG Partners LLC lifted its stake in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after buying an additional 648,198 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after acquiring an additional 232,787 shares during the period. Strategic Financial Concepts LLC bought a new stake in MercadoLibre during the 2nd quarter worth approximately $2,913,000. Finally, Janus Henderson Group PLC increased its holdings in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MELI stock opened at $2,090.01 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The firm’s fifty day moving average is $2,052.64 and its 200 day moving average is $1,817.26. The firm has a market cap 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MELI. Raymond James began coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a report on Monday, October 7th. Citigroup upped their target price 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. Redburn Atlantic began coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Finally, Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.