MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155 shares of the company’s stock after selling 8 shares during the period. First Horizon Advisors Inc.’s holdings in MercadoLibre were worth $318,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MELI. Jennison Associates LLC grew its holdings in MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after purchasing an additional 70,154 shares during the last quarter. Strategy Asset Managers LLC purchased a new stake in shares of MercadoLibre in the 3rd quarter worth about $3,895,000. Premier Fund Managers Ltd grew its stake in MercadoLibre by 40.2% in the 3rd quarter. Premier Fund Managers Ltd now owns 7,301 shares of the company’s stock valued at $15,059,000 after acquiring an additional 2,094 shares during the last quarter. Avior Wealth Management LLC increased its holdings in MercadoLibre by 268.1% during the 3rd quarter. Avior Wealth Management LLC now owns 173 shares of the company’s stock valued at $355,000 after acquiring an additional 126 shares in the last quarter. Finally, West Family Investments Inc. acquired a new position in MercadoLibre during the third quarter worth about $228,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MELI has been the topic of several research reports. Morgan Stanley lowered their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Bank of America upped their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Redburn Atlantic started 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. Finally, Wedbush restated an “outperform” rating and issued a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Stock Up 1.9 %

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 stock has a market capitalization of $101.65 billion, a PE ratio of 70.75, a P/E/G ratio of 1.31 and a beta of 1.61. The firm has a fifty day moving average of $2,025.17 and a 200-day moving average of $1,855.05. 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.