Mercadolibre (NASDAQ:MELI) was downgraded by analysts at Citigroup from a “neutral” rating to a “sell” rating in a report issued on Wednesday, Marketbeat reports. They presently have a $230.00 target price on the stock. Citigroup’s price objective would suggest a potential downside of 26.96% from the company’s current price.
Several other research firms have also issued reports on MELI. BidaskClub upgraded Mercadolibre from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Piper Jaffray Companies raised their price target on Mercadolibre from $268.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 13th. Stifel Nicolaus restated a “buy” rating and set a $275.00 price target on shares of Mercadolibre in a research report on Wednesday, October 4th. Goldman Sachs Group restated a “neutral” rating and set a $215.00 price target on shares of Mercadolibre in a research report on Tuesday, October 3rd. Finally, Credit Suisse Group raised their price target on Mercadolibre from $350.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Mercadolibre currently has a consensus rating of “Buy” and an average price target of $272.13.
Mercadolibre (MELI) traded down $14.38 on Wednesday, reaching $314.90. The company had a trading volume of 1,297,283 shares, compared to its average volume of 654,805. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. Mercadolibre has a fifty-two week low of $151.73 and a fifty-two week high of $334.99. The company has a market cap of $14,400.60, a price-to-earnings ratio of 93.18, a price-to-earnings-growth ratio of 5.38 and a beta of 2.05.
In other Mercadolibre news, Director Alejandro Nicolas Aguzin acquired 10,000 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were purchased at an average cost of $274.47 per share, for a total transaction of $2,744,700.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $2,744,700. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. IFM Investors Pty Ltd bought a new stake in shares of Mercadolibre during the third quarter valued at approximately $325,000. Fieldpoint Private Securities LLC bought a new stake in shares of Mercadolibre during the third quarter valued at approximately $104,000. Neuberger Berman Group LLC boosted its position in shares of Mercadolibre by 9.9% during the third quarter. Neuberger Berman Group LLC now owns 82,553 shares of the company’s stock valued at $21,375,000 after purchasing an additional 7,408 shares in the last quarter. Guardian Capital LP boosted its position in shares of Mercadolibre by 4.6% during the third quarter. Guardian Capital LP now owns 9,045 shares of the company’s stock valued at $2,342,000 after purchasing an additional 400 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in shares of Mercadolibre by 1.8% during the third quarter. California Public Employees Retirement System now owns 89,683 shares of the company’s stock valued at $23,222,000 after purchasing an additional 1,583 shares in the last quarter. Hedge funds and other institutional investors own 89.44% of the company’s stock.
Mercadolibre Company Profile
MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).
