Verus Capital Partners LLC Has $242,000 Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Verus Capital Partners LLC lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.5% during the third quarter, Holdings Channel reports. 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 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MELI. GQG Partners LLC lifted its holdings in shares of MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. International Assets Investment Management LLC lifted its stake in MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after acquiring an additional 248,181 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in MercadoLibre by 43.2% in 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 in the last quarter. Strategic Financial Concepts LLC acquired a new stake in MercadoLibre during the 2nd quarter worth about $2,913,000. Finally, Janus Henderson Group PLC grew its stake in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $1,930.95 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The company’s fifty day moving average price is $2,044.19 and its 200 day moving average price is $1,836.97. The company has a market capitalization of $97.90 billion, a PE ratio of 68.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61.

Analyst Upgrades and Downgrades

Several research firms recently commented on MELI. The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Wedbush reaffirmed an “outperform” rating and issued a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Barclays reduced 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. Cantor Fitzgerald cut their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Susquehanna boosted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.