Virtu Financial LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,231 shares of the company's stock, valued at approximately $12,784,000. MercadoLibre makes up approximately 0.7% of Virtu Financial LLC's investment portfolio, making the stock its 13th biggest holding.
A number of other hedge funds have also recently bought and sold shares of MELI. Migdal Insurance & Financial Holdings Ltd. grew its stake in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company's stock valued at $28,000 after purchasing an additional 16 shares in the last quarter. Optimum Investment Advisors grew its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company's stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Financial Connections Group Inc. bought a new position in MercadoLibre in the second quarter valued at approximately $36,000. Quarry LP bought a new position in MercadoLibre in the second quarter valued at approximately $43,000. Finally, Legacy Bridge LLC grew its stake in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company's stock valued at $47,000 after purchasing an additional 8 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.
Insider Activity
In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company's stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.
MercadoLibre Stock Down 0.5 %
Shares of MercadoLibre stock traded down $9.34 on Thursday, hitting $1,888.53. The company had a trading volume of 135,883 shares, compared to its average volume of 368,594. The stock has a market capitalization of $95.74 billion, a price-to-earnings ratio of 66.97, a P/E/G ratio of 1.33 and a beta of 1.57. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a 50 day moving average of $1,997.44 and a 200-day moving average of $1,879.54. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73.
Analyst Ratings Changes
A number of research analysts have weighed in on MELI shares. Morgan Stanley decreased their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Citigroup reduced their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Bank of America lifted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a "buy" rating in a research note on Thursday, September 12th. Wedbush reiterated an "outperform" rating and set a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Finally, Raymond James began coverage on MercadoLibre in a research note on Friday, September 27th. They set an "outperform" rating and a $2,350.00 target price for the company. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,267.67.
Read Our Latest Report on MELI
MercadoLibre Profile
(
Free Report)
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.
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