The Manufacturers Life Insurance Company Has $68.68 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

The Manufacturers Life Insurance Company grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 14.6% during the third quarter, Holdings Channel.com reports. The firm owned 33,468 shares of the company’s stock after acquiring an additional 4,274 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MercadoLibre were worth $68,676,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. B. Riley Wealth Advisors Inc. increased its stake in MercadoLibre by 2.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,022 shares of the company’s stock valued at $1,545,000 after buying an additional 22 shares during the last quarter. Comerica Bank raised its holdings in MercadoLibre by 14.4% during the first quarter. Comerica Bank now owns 2,068 shares of the company’s stock worth $3,127,000 after acquiring an additional 260 shares in the last quarter. Swedbank AB acquired a new position in MercadoLibre during the first quarter valued at approximately $30,037,000. Cetera Investment Advisers boosted its position in MercadoLibre by 290.7% during the first quarter. Cetera Investment Advisers now owns 5,771 shares of the company’s stock valued at $8,726,000 after purchasing an additional 4,294 shares during the last quarter. Finally, Cetera Advisors LLC grew its stake in MercadoLibre by 107.3% in the first quarter. Cetera Advisors LLC now owns 1,988 shares of the company’s stock valued at $3,006,000 after purchasing an additional 1,029 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. 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 report on Tuesday, November 12th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Stock Down 3.1 %

MELI stock opened at $2,044.76 on Thursday. The stock has a market capitalization of $103.67 billion, a P/E ratio of 72.15, a price-to-earnings-growth ratio of 1.43 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average price of $2,024.62 and a 200-day moving average price of $1,864.25. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

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.