Commerce Bank Has $1.60 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Commerce Bank lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 779 shares of the company’s stock after selling 23 shares during the quarter. Commerce Bank’s holdings in MercadoLibre were worth $1,598,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Strategy Asset Managers LLC acquired a new position in shares of MercadoLibre in the 3rd quarter valued at approximately $3,895,000. Premier Fund Managers Ltd increased its stake in MercadoLibre by 40.2% in the third quarter. Premier Fund Managers Ltd now owns 7,301 shares of the company’s stock valued at $15,059,000 after acquiring an additional 2,094 shares during the last quarter. Avior Wealth Management LLC raised its position in MercadoLibre by 268.1% during the third quarter. Avior Wealth Management LLC now owns 173 shares of the company’s stock valued at $355,000 after purchasing an additional 126 shares in the last quarter. West Family Investments Inc. bought a new stake in MercadoLibre during the third quarter worth $228,000. Finally, Parnassus Investments LLC boosted its holdings in shares of MercadoLibre by 3.0% in the 3rd quarter. Parnassus Investments LLC now owns 14,903 shares of the company’s stock valued at $30,580,000 after purchasing an additional 436 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,005.00 on Friday. The stock has a market capitalization of $101.65 billion, a PE ratio of 70.75, a PEG ratio of 1.34 and a beta of 1.61. The business’s 50 day simple moving average is $2,025.17 and its 200 day simple moving average is $1,856.21. 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.

Analyst Ratings Changes

Several brokerages recently weighed in on MELI. Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. BTIG Research reduced their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Susquehanna raised their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lowered their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Three investment 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

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.