Annex Advisory Services LLC Grows Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Annex Advisory Services LLC increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 21.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,087 shares of the company's stock after buying an additional 2,292 shares during the quarter. Annex Advisory Services LLC's holdings in MercadoLibre were worth $22,254,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. International Assets Investment Management LLC boosted its holdings in MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company's stock worth $509,506,000 after buying an additional 248,181 shares during the period. FMR LLC grew its stake in shares of MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company's stock valued at $1,803,665,000 after buying an additional 137,564 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock worth $717,525,000 after buying an additional 120,922 shares during the period. Swedbank AB grew its stake in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company's stock worth $193,137,000 after purchasing an additional 73,336 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company's stock valued at $3,845,207,000 after acquiring an additional 70,154 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MELI. Raymond James began coverage on shares of MercadoLibre in a research note on Friday, September 27th. They set an "outperform" rating and a $2,350.00 target price for the company. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a "buy" rating and a $2,800.00 price objective on the stock. Cantor Fitzgerald cut their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. BTIG Research reduced their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Finally, 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. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,247.67.

MercadoLibre Stock Performance

MELI traded down $1.18 on Monday, reaching $1,836.00. The company had a trading volume of 245,067 shares, compared to its average volume of 364,653. The stock has a 50-day moving average price of $1,853.58 and a 200-day moving average price of $1,907.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The stock has a market capitalization of $93.09 billion, a PE ratio of 64.78, a P/E/G ratio of 0.92 and a beta of 1.60.

Insiders Place Their Bets

In related news, Director Emiliano Calemzuk sold 50 shares of the company's stock in a transaction that occurred 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 owns 238 shares of the company's stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

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.