MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Verus Capital Partners LLC

Verus Capital Partners LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118 shares of the company’s stock after selling 11 shares during the quarter. Verus Capital Partners LLC’s holdings in MercadoLibre were worth $242,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Platform Technology Partners bought a new position in MercadoLibre during the 3rd quarter worth $250,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of MercadoLibre by 3.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 231,887 shares of the company’s stock worth $475,823,000 after acquiring an additional 7,291 shares during the last quarter. Patron Partners LLC bought a new position in shares of MercadoLibre during the third quarter worth about $246,000. Waverton Investment Management Ltd increased its holdings in shares of MercadoLibre by 2.6% in the 3rd quarter. Waverton Investment Management Ltd now owns 21,136 shares of the company’s stock worth $43,344,000 after acquiring an additional 537 shares during the period. Finally, Entropy Technologies LP bought a new stake in MercadoLibre in the 3rd quarter valued at about $5,598,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Down 2.3 %

MercadoLibre stock opened at $1,930.95 on Thursday. The firm has a market cap of $97.90 billion, a price-to-earnings ratio of 68.14, a price-to-earnings-growth ratio of 1.34 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 firm’s 50 day moving average price is $2,044.19 and its two-hundred day moving average price is $1,836.97. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Cantor Fitzgerald dropped their price target on shares of 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. Morgan Stanley lowered their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday. Wedbush reiterated an “outperform” rating and set a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Redburn Atlantic began coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,269.67.

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.