Victory Capital Management Inc. Sells 167 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Victory Capital Management Inc. decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,047 shares of the company’s stock after selling 167 shares during the quarter. Victory Capital Management Inc.’s holdings in MercadoLibre were worth $49,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates increased its holdings in shares of MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after purchasing an additional 1,604 shares during the period. Caprock Group LLC increased its holdings in shares of MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after purchasing an additional 342 shares during the period. Sarasin & Partners LLP increased its holdings in shares of MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock worth $74,622,000 after purchasing an additional 28,494 shares during the period. Privium Fund Management UK Ltd bought a new position in MercadoLibre in the second quarter valued at $875,000. Finally, Meitav Investment House Ltd. bought a new position in MercadoLibre in the third quarter valued at $1,231,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,880.00 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average of $2,039.73 and a 200-day moving average of $1,837.90. The firm has a market cap of $95.32 billion, a P/E ratio of 66.34, a P/E/G ratio of 1.31 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research analyst reports. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. The Goldman Sachs Group increased their target price 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. Wedbush reissued 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. Redburn Atlantic initiated coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Finally, Barclays reduced their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday. Three research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

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.