MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,222 shares of the company’s stock after selling 7,398 shares during the quarter. Loomis Sayles & Co. L P’s holdings in MercadoLibre were worth $183,080,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC boosted 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 worth $3,845,207,000 after purchasing an additional 70,154 shares during the period. Legal & General Group Plc lifted its position in shares of MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after buying an additional 11,265 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of MercadoLibre by 17.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock valued at $455,560,000 after buying an additional 40,361 shares during the period. Canada Pension Plan Investment Board grew its position in shares of MercadoLibre by 12.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after buying an additional 27,832 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after acquiring an additional 248,181 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Citigroup lifted their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Wedbush restated an “outperform” rating and set a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. BTIG Research reduced their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Susquehanna boosted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,269.67.

MercadoLibre Stock Performance

MELI opened at $2,005.00 on Monday. The business has a 50 day moving average price of $2,025.17 and a two-hundred day moving average price of $1,857.20. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a market capitalization 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. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

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.