Douglass Winthrop Advisors LLC Cuts Position in MercadoLibre, Inc. (NASDAQ:MELI)

Douglass Winthrop Advisors LLC reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,812 shares of the company’s stock after selling 37 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in MercadoLibre were worth $7,822,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of MercadoLibre by 4.1% in the first quarter. Vanguard Group Inc. now owns 189,860 shares of the company’s stock valued at $287,061,000 after buying an additional 7,468 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of MercadoLibre during the first quarter valued at approximately $213,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of MercadoLibre during the first quarter worth $17,578,000. In Depth Partners LLC boosted its stake in shares of MercadoLibre by 2.8% in the first quarter. In Depth Partners LLC now owns 8,905 shares of the company’s stock valued at $13,464,000 after purchasing an additional 239 shares during the period. Finally, Connective Capital Management LLC acquired a new stake in MercadoLibre during the 1st quarter valued at $2,156,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MELI opened at $2,005.00 on Monday. 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 company’s 50-day moving average price is $2,025.17 and its 200 day moving average price is $1,857.20. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The firm has a market cap of $101.65 billion, a price-to-earnings ratio of 70.75, a price-to-earnings-growth ratio of 1.37 and a beta of 1.61.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MELI shares. Susquehanna boosted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. The Goldman Sachs Group boosted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Raymond James assumed coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective for the company. Cantor Fitzgerald reduced their target price on 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. Finally, StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

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.