Bridgewater Associates LP Grows Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Bridgewater Associates LP grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 17.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,837 shares of the company’s stock after purchasing an additional 267 shares during the quarter. Bridgewater Associates LP’s holdings in MercadoLibre were worth $3,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Comerica Bank raised its holdings in MercadoLibre by 14.4% during the first quarter. Comerica Bank now owns 2,068 shares of the company’s stock valued at $3,127,000 after acquiring an additional 260 shares during the period. Cetera Investment Advisers raised its stake in MercadoLibre by 290.7% during the 1st quarter. Cetera Investment Advisers now owns 5,771 shares of the company’s stock valued at $8,726,000 after purchasing an additional 4,294 shares during the period. Cetera Advisors LLC lifted its holdings in MercadoLibre by 107.3% in the 1st quarter. Cetera Advisors LLC now owns 1,988 shares of the company’s stock worth $3,006,000 after purchasing an additional 1,029 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in MercadoLibre by 31.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 54 shares of the company’s stock worth $79,000 after purchasing an additional 13 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in MercadoLibre during the 2nd quarter valued at approximately $59,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 2.9 %

Shares of NASDAQ:MELI opened at $1,985.17 on Friday. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The firm has a market capitalization of $100.64 billion, a PE ratio of 70.05, a price-to-earnings-growth ratio of 1.39 and a beta of 1.61. The business has a 50 day simple moving average of $2,020.96 and a two-hundred day simple moving average of $1,868.92. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research analyst reports. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Morgan Stanley reduced their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. The Goldman Sachs Group increased their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, BTIG Research reduced their price objective 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. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,267.67.

About MercadoLibre

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.