GM Advisory Group LLC Increases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

GM Advisory Group LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 134 shares of the company’s stock after acquiring an additional 10 shares during the period. GM Advisory Group LLC’s holdings in MercadoLibre were worth $275,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MELI. Vanguard Group Inc. boosted its stake in shares of MercadoLibre by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 189,860 shares of the company’s stock worth $287,061,000 after acquiring an additional 7,468 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in MercadoLibre during the first quarter worth $213,000. Price T Rowe Associates Inc. MD grew its holdings in MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares during the last quarter. Kora Management LP purchased a new position in shares of MercadoLibre in the first quarter valued at $22,226,000. Finally, Jericho Capital Asset Management L.P. acquired a new position in shares of MercadoLibre during the 1st quarter worth $26,284,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MELI has been the subject of a number of recent research reports. Redburn Atlantic began coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. The Goldman Sachs Group lifted their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Bank of America upped their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. BTIG Research lowered their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald reduced their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,005.00 on Friday. 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’s 50-day moving average price is $2,025.17 and its two-hundred day moving average price is $1,855.05. The stock has a market capitalization of $101.65 billion, a P/E ratio of 70.75, a P/E/G ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73.

MercadoLibre Company 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.