DRW Securities LLC Invests $492,000 in MercadoLibre, Inc. (NASDAQ:MELI)

DRW Securities LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 240 shares of the company’s stock, valued at approximately $492,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of 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 purchasing an additional 16 shares in the last quarter. Optimum Investment Advisors raised its holdings in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares during the last quarter. Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre in the second quarter valued at $36,000. Quarry LP acquired a new stake in shares of MercadoLibre during the second quarter valued at $43,000. Finally, Legacy Bridge LLC increased its position 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 purchasing an additional 8 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MELI opened at $2,110.00 on Wednesday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a 50 day moving average of $2,025.78 and a two-hundred day moving average of $1,862.98. The company has a market cap of $106.97 billion, a P/E ratio of 74.45, a P/E/G ratio of 1.37 and a beta of 1.61. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Analyst Ratings Changes

A number of research firms have issued reports on MELI. Bank of America upped 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. Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. BTIG Research reduced their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, Susquehanna increased their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Three investment 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 company’s stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre 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.