Nwam LLC Sells 25 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

by · The Markets Daily

Nwam LLC trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,590 shares of the company’s stock after selling 25 shares during the quarter. Nwam LLC’s holdings in MercadoLibre were worth $3,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Planning Capital Management Corp lifted its position in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the period. Mount Lucas Management LP raised its stake in MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after acquiring an additional 5 shares in the last quarter. Belpointe Asset Management LLC raised its stake in MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after acquiring an additional 6 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in MercadoLibre by 0.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after acquiring an additional 6 shares in the last quarter. Finally, Evolutionary Tree Capital Management LLC raised its stake in MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after acquiring an additional 6 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of MELI opened at $1,963.60 on Friday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The business has a 50-day simple moving average of $2,027.52 and a two-hundred day simple moving average of $1,852.61. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market cap of $99.55 billion, a PE ratio of 69.34, a PEG ratio of 1.31 and a beta of 1.61.

Wall Street Analysts Forecast Growth

MELI has been the subject of several recent analyst reports. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Raymond James initiated coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Redburn Atlantic initiated coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Finally, BTIG Research reduced their target price 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. Three 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, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

Check Out Our Latest Report on MercadoLibre

MercadoLibre Company Profile

(Free Report)

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.

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