BNP Paribas Has $12.15 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

BNP Paribas reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,921 shares of the company’s stock after selling 224 shares during the period. BNP Paribas’ holdings in MercadoLibre were worth $12,149,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Planning Capital Management Corp raised its position in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares during the last quarter. Mount Lucas Management LP boosted its position in MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after buying an additional 5 shares during the period. Belpointe Asset Management LLC grew its holdings in MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after acquiring an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after acquiring an additional 6 shares during the period. Finally, Evolutionary Tree Capital Management LLC lifted its holdings in shares of MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after purchasing an additional 6 shares during the period. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MELI has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Raymond James began coverage on shares of MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Finally, StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,267.67.

MercadoLibre Trading Up 0.5 %

Shares of MercadoLibre stock opened at $2,110.00 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The stock has a 50 day moving average price of $2,025.78 and a two-hundred day moving average price of $1,862.98. The stock has a market capitalization of $106.98 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 1.43 and a beta of 1.61.

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.