5 Best Rebound Stocks To Buy Now

4. MercadoLibre, Inc. (NASDAQ:MELI)

Number of Hedge Fund Holders: 76    

MercadoLibre Inc. (NASDAQ:MELI) operates online commerce platforms in Latin America. On October 16, investment advisory Barclays maintained an Overweight rating on MercadoLibre, Inc. (NASDAQ:MELI) stock and lowered the price target to $1,550 from $1,625. 

Among the hedge funds being tracked by Insider Monkey, London-based investment firm Generation Investment Management is a leading shareholder in MercadoLibre Inc. (NASDAQ:MELI) with 480,480 shares worth more than $609 million. 

In its Q3 2023 investor letter, Artisan Partners, an asset management firm, highlighted a few stocks and MercadoLibre, Inc. (NASDAQ:MELI) was one of them. Here is what the fund said:

“Top contributors to performance for the quarter included Latin American marketplace MercadoLibre, Inc. (NASDAQ:MELI). MercadoLibre rose as a result of continued share gains across key markets and supportive Brazilian regulations aimed at creating a level playing field in cross-border e-commerce.”