Benjamin Edwards Inc. Purchases New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Benjamin Edwards Inc. acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,058 shares of the company's stock, valued at approximately $2,172,000.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in shares of MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company's stock worth $509,506,000 after acquiring an additional 248,181 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in MercadoLibre in the 2nd quarter valued at approximately $2,913,000. FMR LLC lifted its position in MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company's stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter valued at about $121,137,000. Finally, Swedbank AB boosted its stake in MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company's stock valued at $193,137,000 after buying an additional 73,336 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Insider Buying and Selling

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

MercadoLibre Stock Down 0.1 %

MercadoLibre stock traded down $2.48 during mid-day trading on Thursday, hitting $1,984.95. The company had a trading volume of 325,495 shares, compared to its average volume of 369,206. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock's 50 day moving average price is $2,011.44 and its two-hundred day moving average price is $1,873.56. The company has a market capitalization of $100.64 billion, a PE ratio of 70.13, a price-to-earnings-growth ratio of 1.31 and a beta of 1.57.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MELI. StockNews.com lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Saturday, August 10th. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating on the stock in a research report on Wednesday, November 13th. Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. Susquehanna upped their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a "positive" rating in a research report on Wednesday, August 28th. Finally, Bank of America lifted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a "buy" rating in a research report on Thursday, September 12th. Three equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,267.67.

MercadoLibre Profile

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.