Avanza Fonder AB acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,162 shares of the company's stock, valued at approximately $7,077,000.
Several other hedge funds and other institutional investors have also made changes to their positions in MELI. Dimensional Fund Advisors LP lifted its stake in MercadoLibre by 39.9% in the second quarter. Dimensional Fund Advisors LP now owns 235 shares of the company's stock worth $386,000 after acquiring an additional 67 shares during the last quarter. E Fund Management Co. Ltd. lifted its stake in MercadoLibre by 11.1% in the second quarter. E Fund Management Co. Ltd. now owns 471 shares of the company's stock worth $774,000 after acquiring an additional 47 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in MercadoLibre by 265.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,046 shares of the company's stock worth $6,649,000 after acquiring an additional 2,939 shares during the last quarter. Argent Trust Co purchased a new position in MercadoLibre in the second quarter worth approximately $247,000. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its stake in MercadoLibre by 2.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,439 shares of the company's stock worth $4,008,000 after acquiring an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.
Insider Buying and Selling at MercadoLibre
In related news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction dated Friday, November 29th. The shares were 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 in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of analysts have weighed in on MELI shares. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. BTIG Research cut their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Barclays cut their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. Raymond James started coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an "outperform" rating and a $2,350.00 price objective on the stock. Finally, Wedbush cut their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $2,247.67.
Check Out Our Latest Stock Report on MercadoLibre
MercadoLibre Stock Performance
MELI traded down $1.18 during trading on Friday, hitting $1,836.00. The stock had a trading volume of 245,067 shares, compared to its average volume of 364,653. 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 firm has a market capitalization of $93.09 billion, a P/E ratio of 64.78, a PEG ratio of 0.92 and a beta of 1.60. The company's 50-day moving average price is $1,853.58 and its 200 day moving average price is $1,903.18. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.
About MercadoLibre
(
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.
Featured Stories
Before you consider MercadoLibre, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MercadoLibre wasn't on the list.
While MercadoLibre currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
