Advisors Asset Management Inc. Sells 23 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Advisors Asset Management Inc. lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 7.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289 shares of the company’s stock after selling 23 shares during the period. Advisors Asset Management Inc.’s holdings in MercadoLibre were worth $593,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares during the period. Optimum Investment Advisors grew its holdings in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares during the period. Financial Connections Group Inc. acquired a new stake in MercadoLibre during the 2nd quarter worth $36,000. Quarry LP acquired a new stake in MercadoLibre during the 2nd quarter worth $43,000. Finally, Legacy Bridge LLC grew 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 acquiring an additional 8 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 3.1 %

MELI opened at $2,044.76 on Thursday. The firm’s fifty day simple moving average is $2,024.62 and its 200 day simple moving average is $1,864.25. 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, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The stock 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.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their target price 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. Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased 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. BTIG Research decreased their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,267.67.

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.