Apollon Wealth Management LLC Increases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Apollon Wealth Management LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 19.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 427 shares of the company’s stock after acquiring an additional 71 shares during the period. Apollon Wealth Management LLC’s holdings in MercadoLibre were worth $876,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares in the last quarter. Optimum Investment Advisors lifted its position in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in shares of MercadoLibre in the second quarter worth about $36,000. Quarry LP purchased a new stake in shares of MercadoLibre in the second quarter worth about $43,000. Finally, NBC Securities Inc. lifted its position in shares of MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after buying an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI opened at $1,880.00 on Friday. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The stock has a fifty day moving average price of $2,039.73 and a 200-day moving average price of $1,837.90. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market cap of $95.32 billion, a PE ratio of 66.20, a P/E/G ratio of 1.31 and a beta of 1.61.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MELI shares. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Susquehanna upped their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Barclays cut their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday. Wedbush reissued an “outperform” rating and issued a $2,200.00 price objective (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Finally, StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

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.