Freedom Investment Management Inc. Increases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Freedom Investment Management Inc. lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 63.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 632 shares of the company’s stock after buying an additional 246 shares during the quarter. Freedom Investment Management Inc.’s holdings in MercadoLibre were worth $1,297,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of MELI. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors raised its holdings in shares of MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares during the period. Financial Connections Group Inc. purchased a new stake in MercadoLibre during the 2nd quarter worth approximately $36,000. Quarry LP purchased a new stake in MercadoLibre during the 2nd quarter worth approximately $43,000. Finally, Legacy Bridge LLC increased its holdings in MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MELI shares. Susquehanna lifted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. BTIG Research dropped 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 started coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective on the stock. Finally, Bank of America lifted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Trading Down 3.1 %

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

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.