143 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 143 shares of the company’s stock, valued at approximately $293,000.

Several other hedge funds have also bought and sold shares of the stock. Raymond James & Associates raised its position in shares of MercadoLibre by 4.8% during the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after buying an additional 1,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in MercadoLibre by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock worth $41,794,000 after purchasing an additional 4,658 shares during the last quarter. Caprock Group LLC lifted its stake in MercadoLibre by 143.7% during the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after purchasing an additional 342 shares during the last quarter. Sarasin & Partners LLP boosted its holdings in shares of MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after purchasing an additional 28,494 shares in the last quarter. Finally, Privium Fund Management UK Ltd bought a new position in shares of MercadoLibre during the 2nd quarter valued at about $875,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,961.16 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The firm has a market cap of $99.42 billion, a P/E ratio of 69.20, a P/E/G ratio of 1.15 and a beta of 1.61. The business’s 50 day moving average price is $2,046.45 and its 200-day moving average price is $1,828.74.

Analysts Set New Price Targets

MELI has been the subject of a number of recent research reports. BTIG Research dropped their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Susquehanna boosted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Bank of America increased their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Citigroup lifted their target price on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, The Goldman Sachs Group upped their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,306.33.

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.