Hantz Financial Services Inc. raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 74.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,026 shares of the company's stock after purchasing an additional 1,716 shares during the period. Hantz Financial Services Inc.'s holdings in MercadoLibre were worth $6,846,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sumitomo Life Insurance Co. lifted its position in MercadoLibre by 190.9% in the fourth quarter. Sumitomo Life Insurance Co. now owns 3,200 shares of the company's stock valued at $5,441,000 after purchasing an additional 2,100 shares during the last quarter. R Squared Ltd purchased a new stake in MercadoLibre during the 4th quarter valued at $102,000. Bensler LLC raised its stake in MercadoLibre by 3.8% during the 4th quarter. Bensler LLC now owns 4,756 shares of the company's stock worth $8,088,000 after acquiring an additional 175 shares during the period. Wealth Effects LLC grew its stake in shares of MercadoLibre by 9.9% in the 4th quarter. Wealth Effects LLC now owns 166 shares of the company's stock worth $282,000 after buying an additional 15 shares in the last quarter. Finally, Tamar Securities LLC grew its position in MercadoLibre by 2.7% in the 4th quarter. Tamar Securities LLC now owns 13,012 shares of the company's stock valued at $22,126,000 after acquiring an additional 347 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at MercadoLibre
In related news, Director Emiliano Calemzuk sold 50 shares of the firm'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 transaction of $99,249.00. Following the transaction, the director now owns 238 shares in the company, valued at $472,425.24. This trade 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 is available through the SEC website. Corporate insiders own 0.06% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on MELI. Barclays dropped their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating on the stock in a report on Tuesday, November 12th. BTIG Research dropped their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. Wedbush reduced their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $2,244.69.
Check Out Our Latest Analysis on MercadoLibre
MercadoLibre Trading Up 4.1 %
NASDAQ:MELI traded up $76.60 during trading hours on Thursday, reaching $1,966.36. 251,143 shares of the company were exchanged, compared to its average volume of 322,038. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The stock has a 50 day simple moving average of $1,841.64 and a 200 day simple moving average of $1,914.92. The firm has a market cap of $99.69 billion, a price-to-earnings ratio of 69.25, a PEG ratio of 0.96 and a beta of 1.60. 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
(
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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