MercadoLibre, Inc. (NASDAQ:MELI) Position Raised by Aigen Investment Management LP

Aigen Investment Management LP grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 79.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 767 shares of the company’s stock after acquiring an additional 339 shares during the quarter. Aigen Investment Management LP’s holdings in MercadoLibre were worth $1,574,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Belpointe Asset Management LLC boosted its holdings in MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after purchasing an additional 6 shares during the period. Ameritas Investment Partners Inc. raised its holdings in MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after acquiring an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC grew its holdings in shares of MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after purchasing an additional 6 shares in the last quarter. Strategic Blueprint LLC raised its stake in shares of MercadoLibre by 0.9% in the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after purchasing an additional 6 shares in the last quarter. Finally, Hilltop National Bank raised its position in MercadoLibre by 14.3% in the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.9 %

Shares of NASDAQ MELI traded up $18.26 during midday trading on Tuesday, reaching $1,979.42. 71,544 shares of the stock were exchanged, compared to its average volume of 363,946. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The business has a 50-day simple moving average of $2,044.44 and a two-hundred day simple moving average of $1,832.95. The company has a market capitalization of $100.35 billion, a price-to-earnings ratio of 69.20, a P/E/G ratio of 1.15 and a beta of 1.61.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BTIG Research lowered their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Barclays boosted their target price on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a research report on Wednesday, October 2nd. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, The Goldman Sachs Group raised their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,306.33.

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.