CENTRAL TRUST Co Raises Stake in MercadoLibre, Inc. (NASDAQ:MELI)

CENTRAL TRUST Co raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 17.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,083 shares of the company's stock after buying an additional 164 shares during the quarter. CENTRAL TRUST Co's holdings in MercadoLibre were worth $1,842,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MELI. Pacific Capital Wealth Advisors Inc. increased its holdings in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock worth $27,000 after acquiring an additional 11 shares during the period. Optimum Investment Advisors grew its position in shares of MercadoLibre by 750.0% during the 3rd 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. Heck Capital Advisors LLC bought a new position in shares of MercadoLibre in the fourth quarter worth $32,000. Grove Bank & Trust raised its position in shares of MercadoLibre by 120.0% in the fourth quarter. Grove Bank & Trust now owns 22 shares of the company's stock worth $37,000 after buying an additional 12 shares in the last quarter. Finally, Legacy Bridge LLC boosted its stake in MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company's stock valued at $47,000 after buying an additional 8 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. BTIG Research lowered their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a "buy" rating and a $2,800.00 target price for the company. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Raymond James raised 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 report on Tuesday, January 21st. Finally, Wedbush reduced 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre has an average rating of "Buy" and an average target price of $2,244.69.

MercadoLibre Trading Down 1.3 %

Shares of MELI opened at $1,922.19 on Monday. The firm has a fifty day simple moving average of $1,839.63 and a two-hundred day simple moving average of $1,917.75. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The stock has a market capitalization of $97.46 billion, a P/E ratio of 67.83, a PEG ratio of 1.02 and a beta of 1.62. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the firm'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 completion of the sale, the director now owns 238 shares of the company's stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by company 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.

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