Legacy Capital Wealth Partners LLC Acquires New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Legacy Capital Wealth Partners LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 138 shares of the company’s stock, valued at approximately $283,000.

Other hedge funds 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% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors raised its position in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares during the period. Financial Connections Group Inc. purchased a new position in shares of MercadoLibre during the 2nd quarter worth $36,000. Quarry LP bought a new stake in shares of MercadoLibre during the 2nd quarter valued at $43,000. Finally, NBC Securities Inc. increased its stake in shares of MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a report on Wednesday, October 2nd. Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday. BTIG Research lowered their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Raymond James initiated coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. Finally, Barclays lifted their price objective on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,306.33.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,961.16 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The firm’s 50 day simple moving average is $2,046.45 and its 200-day simple moving average is $1,828.74. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The stock has a market capitalization of $99.42 billion, a price-to-earnings ratio of 69.20, a PEG ratio of 1.15 and a beta of 1.61.

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.