Holocene Advisors LP purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,494 shares of the company's stock, valued at approximately $5,118,000.
Several other institutional investors have also recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. grew 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 valued at $28,000 after purchasing an additional 16 shares in the last quarter. Optimum Investment Advisors lifted its position in shares of MercadoLibre by 750.0% during 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 last quarter. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre in the second quarter valued at about $36,000. Quarry LP bought a new stake in shares of MercadoLibre in the second quarter valued at about $43,000. Finally, Legacy Bridge LLC raised its holdings 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. Institutional investors own 87.62% of the company's stock.
Analyst Ratings Changes
MELI has been the topic of a number of research analyst reports. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a research note on Thursday, November 7th. StockNews.com downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Saturday, August 10th. BTIG Research reduced their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Finally, Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,267.67.
Read Our Latest Stock Analysis on MELI
MercadoLibre Stock Performance
Shares of NASDAQ MELI traded down $2.48 during mid-day trading on Thursday, hitting $1,984.95. The company had a trading volume of 325,495 shares, compared to its average volume of 369,206. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market cap of $100.64 billion, a price-to-earnings ratio of 70.13, a PEG ratio of 1.31 and a beta of 1.57. The firm's 50 day simple moving average is $2,011.44 and its two-hundred day simple moving average is $1,873.56.
Insiders Place Their Bets
In other news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 238 shares of the company's stock, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company's stock.
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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