Alberta Investment Management Corp Sells 2,028 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Alberta Investment Management Corp decreased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,449 shares of the company's stock after selling 2,028 shares during the quarter. Alberta Investment Management Corp owned 0.08% of MercadoLibre worth $65,380,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Laidlaw Wealth Management LLC bought a new position in MercadoLibre during the 4th quarter valued at $275,000. Chapman Investment Management LLC lifted its position in shares of MercadoLibre by 1.0% during the fourth quarter. Chapman Investment Management LLC now owns 4,157 shares of the company's stock valued at $7,069,000 after purchasing an additional 41 shares in the last quarter. Timber Creek Capital Management LLC boosted its holdings in MercadoLibre by 17.1% during the fourth quarter. Timber Creek Capital Management LLC now owns 3,322 shares of the company's stock worth $5,649,000 after purchasing an additional 484 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in MercadoLibre in the 4th quarter worth about $230,000. Finally, New York State Common Retirement Fund increased its stake in MercadoLibre by 20.6% in the 4th quarter. New York State Common Retirement Fund now owns 34,217 shares of the company's stock valued at $58,184,000 after buying an additional 5,843 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now directly owns 238 shares of the company's stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by company insiders.

MercadoLibre Stock Up 7.1 %

MercadoLibre stock traded up $149.53 during trading hours on Friday, hitting $2,260.00. 1,255,676 shares of the stock traded hands, compared to its average volume of 365,618. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The company has a market cap of $114.58 billion, a PE ratio of 79.75, a PEG ratio of 1.10 and a beta of 1.62. The firm's 50-day moving average price is $1,858.57 and its two-hundred day moving average price is $1,952.94. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. On average, research analysts forecast that MercadoLibre, Inc. will post 32.98 EPS for the current year.

Analyst Ratings Changes

MELI has been the topic of a number of research analyst reports. Wedbush cut their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a research note on Monday, January 6th. Barclays lifted their price objective on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a research report on Friday. Cantor Fitzgerald increased their target price on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an "overweight" rating in a research report on Friday. Citigroup lowered their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Finally, Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective for the company in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $2,364.06.

About MercadoLibre

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.