CWA Asset Management Group LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,719 shares of the company's stock, valued at approximately $4,623,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Optimum Investment Advisors boosted its holdings in shares of 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 in the last quarter. Quarry LP acquired a new position in MercadoLibre in the second quarter worth $43,000. Legacy Bridge LLC boosted its stake in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company's stock worth $47,000 after purchasing an additional 8 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of MercadoLibre by 123.1% during the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company's stock worth $49,000 after purchasing an additional 16 shares during the last quarter. Finally, NBC Securities Inc. increased its stake in shares of MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company's stock valued at $55,000 after buying an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have commented on MELI shares. Cantor Fitzgerald decreased 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. Bank of America increased their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. Redburn Atlantic began coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a "buy" rating and a $2,800.00 price objective for the company. Morgan Stanley decreased their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. Finally, Wedbush dropped their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research report on Monday. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $2,261.00.
Check Out Our Latest Report on MELI
Insider Buying and Selling at MercadoLibre
In other news, Director Emiliano Calemzuk sold 50 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the director now owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company's stock.
MercadoLibre Trading Down 1.9 %
Shares of MELI stock traded down $34.75 on Monday, hitting $1,799.42. The stock had a trading volume of 365,413 shares, compared to its average volume of 425,761. The company has a current ratio of 1.25, a quick ratio of 1.22 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 company has a fifty day moving average price of $1,894.45 and a two-hundred day moving average price of $1,897.55. The firm has a market cap of $91.23 billion, a P/E ratio of 63.49, a PEG ratio of 1.24 and a beta of 1.60.
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.
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