Chiron Investment Management LLC Purchases 1,262 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Chiron Investment Management LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 91.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,644 shares of the company's stock after acquiring an additional 1,262 shares during the period. MercadoLibre makes up 1.9% of Chiron Investment Management LLC's portfolio, making the stock its 22nd biggest position. Chiron Investment Management LLC's holdings in MercadoLibre were worth $5,425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in MercadoLibre by 1,600.0% during the 2nd 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 boosted its holdings in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company's stock worth $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. bought a new stake in MercadoLibre during the second quarter valued at $36,000. Legacy Bridge LLC raised its holdings in shares of MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company's stock worth $47,000 after purchasing an additional 8 shares during the period. Finally, Quarry LP bought a new position in shares of MercadoLibre in the 2nd quarter worth 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 company's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MELI. Bank of America boosted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a "buy" rating in a research report on Thursday, September 12th. Morgan Stanley reduced their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Barclays dropped their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. 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 price objective for the company. Finally, Cantor Fitzgerald decreased their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus target price of $2,267.67.

MercadoLibre Stock Performance

MELI stock traded up $17.43 during midday trading on Wednesday, hitting $1,896.61. 110,659 shares of the company traded hands, compared to its average volume of 368,872. The business has a 50 day simple moving average of $1,998.90 and a 200-day simple moving average of $1,879.41. 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 twelve month low of $1,324.99 and a twelve month high of $2,161.73. The stock has a market capitalization of $96.15 billion, a price-to-earnings ratio of 66.83, a price-to-earnings-growth ratio of 1.33 and a beta of 1.57.

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.