BB&T Securities LLC lifted its position in Mercadolibre Inc (NASDAQ:MELI) by 15.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 834 shares of the company’s stock after purchasing an additional 114 shares during the period. BB&T Securities LLC’s holdings in Mercadolibre were worth $467,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its holdings in shares of Mercadolibre by 70.2% in the third quarter. Steward Partners Investment Advisory LLC now owns 560 shares of the company’s stock worth $308,000 after purchasing an additional 231 shares during the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of Mercadolibre by 4.3% in the third quarter. Harbour Capital Advisors LLC now owns 1,292 shares of the company’s stock worth $712,000 after purchasing an additional 53 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management grew its holdings in shares of Mercadolibre by 3.6% in the third quarter. B & T Capital Management DBA Alpha Capital Management now owns 4,567 shares of the company’s stock worth $2,517,000 after purchasing an additional 157 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of Mercadolibre by 95.7% in the third quarter. Nikko Asset Management Americas Inc. now owns 193,870 shares of the company’s stock worth $106,867,000 after purchasing an additional 94,806 shares during the last quarter. Finally, Requisite Capital Management LLC grew its holdings in shares of Mercadolibre by 40.0% in the third quarter. Requisite Capital Management LLC now owns 700 shares of the company’s stock worth $386,000 after purchasing an additional 200 shares during the last quarter. 82.21% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:MELI opened at $499.50 on Wednesday. The stock has a market cap of $24.58 billion, a P/E ratio of -609.15 and a beta of 1.61. The firm’s fifty day simple moving average is $534.44 and its 200 day simple moving average is $581.46. Mercadolibre Inc has a twelve month low of $257.52 and a twelve month high of $698.98. The company has a quick ratio of 2.72, a current ratio of 2.73 and a debt-to-equity ratio of 0.38.

Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($2.96) EPS for the quarter, missing the consensus estimate of $0.01 by ($2.97). The firm had revenue of $603.03 million for the quarter, compared to analysts’ expectations of $588.23 million. Mercadolibre had a negative net margin of 5.87% and a negative return on equity of 1.29%. The business’s quarterly revenue was up 69.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.23) EPS. On average, analysts expect that Mercadolibre Inc will post -1.15 EPS for the current fiscal year.

Several analysts recently weighed in on MELI shares. UBS Group cut their price target on shares of Mercadolibre from $730.00 to $670.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Credit Suisse Group lifted their price target on shares of Mercadolibre from $640.00 to $710.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. They noted that the move was a valuation call. HSBC upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating and lifted their price target for the company from $575.00 to $800.00 in a report on Monday, September 9th. TheStreet cut shares of Mercadolibre from a “c” rating to a “d+” rating in a report on Thursday, October 31st. Finally, Citigroup upgraded shares of Mercadolibre from a “neutral” rating to a “buy” rating and lifted their price target for the company from $609.00 to $729.00 in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Mercadolibre presently has an average rating of “Buy” and an average price target of $657.56.

About Mercadolibre

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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