Sigma Planning Corp Has $909,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Sigma Planning Corp lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 13.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443 shares of the company’s stock after selling 66 shares during the period. Sigma Planning Corp’s holdings in MercadoLibre were worth $909,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MELI. Raymond James & Associates lifted its holdings in shares of MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after acquiring an additional 1,604 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of MercadoLibre by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after acquiring an additional 4,658 shares during the period. Caprock Group LLC lifted its holdings in shares of MercadoLibre by 143.7% during the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after acquiring an additional 342 shares during the period. Sarasin & Partners LLP lifted its holdings in shares of MercadoLibre by 168.5% during the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares during the period. Finally, Privium Fund Management UK Ltd bought a new position in shares of MercadoLibre during the second quarter valued at $875,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Bank of America lifted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Barclays cut their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday. Raymond James began coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. Morgan Stanley cut their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday. Finally, Citigroup lifted their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,930.95 on Thursday. The firm has a market capitalization of $97.90 billion, a P/E ratio of 68.14, a PEG 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 business has a 50-day moving average of $2,044.19 and a 200-day moving average of $1,836.97. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre Company 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.