Parametrica Management Ltd Has $3.73 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Parametrica Management Ltd decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 30.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,816 shares of the company’s stock after selling 781 shares during the quarter. MercadoLibre accounts for about 4.4% of Parametrica Management Ltd’s investment portfolio, making the stock its 6th largest holding. Parametrica Management Ltd’s holdings in MercadoLibre were worth $3,726,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James & Associates raised its stake in shares of MercadoLibre by 4.8% during the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after purchasing an additional 1,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after acquiring an additional 4,658 shares during the last quarter. Caprock Group LLC increased its holdings in shares of 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 acquiring an additional 342 shares during the last quarter. Sarasin & Partners LLP increased its holdings in shares of 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 acquiring an additional 28,494 shares during the last quarter. Finally, Privium Fund Management UK Ltd acquired a new position in shares of MercadoLibre during the 2nd quarter valued at about $875,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI traded down $20.47 during trading hours on Wednesday, reaching $1,956.92. 69,533 shares of the company’s stock were exchanged, compared to its average volume of 365,180. The company has a 50-day moving average of $2,044.19 and a 200 day moving average of $1,836.97. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $99.22 billion, a price-to-earnings ratio of 68.85, a P/E/G ratio of 1.31 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.

Analysts Set New Price Targets

MELI has been the topic of several recent research reports. BTIG Research decreased their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Raymond James assumed coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Morgan Stanley cut their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Barclays cut their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday. Three investment 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,269.67.

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.