The Manufacturers Life Insurance Company Has $68.68 Million Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

The Manufacturers Life Insurance Company lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,468 shares of the company’s stock after purchasing an additional 4,274 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.07% of MercadoLibre worth $68,676,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its stake in MercadoLibre by 2.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,022 shares of the company’s stock worth $1,545,000 after buying an additional 22 shares during the last quarter. Comerica Bank increased its stake in shares of MercadoLibre by 14.4% in the first quarter. Comerica Bank now owns 2,068 shares of the company’s stock valued at $3,127,000 after buying an additional 260 shares in the last quarter. Swedbank AB bought a new position in shares of MercadoLibre in the first quarter valued at about $30,037,000. Cetera Investment Advisers lifted its position in MercadoLibre by 290.7% during the 1st quarter. Cetera Investment Advisers now owns 5,771 shares of the company’s stock worth $8,726,000 after buying an additional 4,294 shares in the last quarter. Finally, Cetera Advisors LLC increased its position in MercadoLibre by 107.3% in the 1st quarter. Cetera Advisors LLC now owns 1,988 shares of the company’s stock valued at $3,006,000 after acquiring an additional 1,029 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on MELI. Citigroup decreased their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday. Susquehanna upped their price target 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. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Wedbush reaffirmed an “outperform” rating and issued a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Stock Down 3.1 %

Shares of MELI stock opened at $2,044.76 on Thursday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. 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 firm has a fifty day moving average of $2,024.62 and a 200-day moving average of $1,864.25. The company has a market capitalization of $103.67 billion, a price-to-earnings ratio of 72.15, a P/E/G ratio of 1.43 and a beta of 1.61.

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.