Cerity Partners LLC Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Cerity Partners LLC grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 25.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,875 shares of the company’s stock after purchasing an additional 993 shares during the period. Cerity Partners LLC’s holdings in MercadoLibre were worth $10,003,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MELI. Jennison Associates LLC boosted its stake in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after buying an additional 70,154 shares during the period. Legal & General Group Plc lifted its holdings in shares of MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after acquiring an additional 11,265 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of MercadoLibre by 17.0% during the 2nd quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after purchasing an additional 40,361 shares during the period. Canada Pension Plan Investment Board grew its holdings in MercadoLibre by 12.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after purchasing an additional 27,832 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position 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 purchasing an additional 248,181 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Citigroup dropped their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Cantor Fitzgerald decreased their target price 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. The Goldman Sachs Group upped 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. Finally, Susquehanna lifted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,110.00 on Wednesday. The stock’s 50-day moving average is $2,025.78 and its 200 day moving average is $1,862.98. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. 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 company has a market cap of $106.97 billion, a P/E ratio of 74.45, a PEG ratio of 1.37 and a beta of 1.61.

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.