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

Commerce Bank reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.9% in the third quarter, HoldingsChannel reports. The firm owned 779 shares of the company’s stock after selling 23 shares during the period. Commerce Bank’s holdings in MercadoLibre were worth $1,598,000 at the end of the most recent quarter.

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

MercadoLibre Stock Up 1.9 %

Shares of NASDAQ:MELI opened at $2,005.00 on Friday. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a market capitalization of $101.65 billion, a PE ratio of 70.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The business has a fifty day moving average price of $2,025.17 and a two-hundred day moving average price of $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.

Analyst Ratings Changes

A number of equities research analysts have commented on MELI shares. Susquehanna raised their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Redburn Atlantic started coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, The Goldman Sachs Group upped 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. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, MercadoLibre currently has an average 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.