United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Decreases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 16.7% in the third quarter, Holdings Channel.com reports. The firm owned 4,287 shares of the company’s stock after selling 857 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in MercadoLibre were worth $8,797,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MELI. Migdal Insurance & Financial Holdings Ltd. raised its holdings 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 acquiring an additional 16 shares during the period. Optimum Investment Advisors increased its position in shares of MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the last quarter. Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $36,000. Quarry LP acquired a new position in MercadoLibre during the second quarter worth $43,000. Finally, NBC Securities Inc. boosted its holdings in MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Down 2.3 %

NASDAQ MELI opened at $1,930.95 on Thursday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The firm has a market cap of $97.90 billion, a PE ratio of 68.14, a P/E/G ratio of 1.34 and a beta of 1.61. The firm’s fifty day moving average is $2,044.19 and its two-hundred day moving average is $1,836.97. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

Analyst Ratings Changes

MELI has been the subject of a number of research reports. Citigroup lifted their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. 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. Wedbush reissued an “outperform” rating and set a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Barclays lowered their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Three 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 stock. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

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.