Charles Schwab Investment Management Inc. reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 33.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,215 shares of the company's stock after selling 1,615 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in MercadoLibre were worth $6,597,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company's stock worth $28,000 after buying an additional 16 shares during the last quarter. Optimum Investment Advisors raised its stake in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company's stock worth $35,000 after acquiring an additional 15 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in MercadoLibre during the 2nd quarter worth about $36,000. Legacy Bridge LLC grew its stake in MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company's stock valued at $47,000 after purchasing an additional 8 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of MercadoLibre in the second quarter valued at about $43,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at MercadoLibre
In related news, Director Emiliano Calemzuk sold 50 shares of the firm'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 transaction, the director now directly owns 238 shares of the company's stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on MELI shares. Wedbush reaffirmed an "outperform" rating and set a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Susquehanna lifted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a "positive" rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. cut their price objective on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 13th. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating for the company in a report 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 equities research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $2,267.67.
Check Out Our Latest Stock Analysis on MercadoLibre
MercadoLibre Price Performance
MELI stock traded down $11.50 during mid-day trading on Thursday, reaching $1,886.37. 148,466 shares of the company's stock were exchanged, compared to its average volume of 368,662. The company has a market cap of $95.63 billion, a price-to-earnings ratio of 66.97, a price-to-earnings-growth ratio of 1.33 and a beta of 1.57. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock's 50 day moving average is $1,997.44 and its 200 day moving average is $1,879.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.
MercadoLibre Profile
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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.
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