Kingswood Wealth Advisors LLC Purchases New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Kingswood Wealth Advisors LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 283 shares of the company's stock, valued at approximately $481,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Planning Capital Management Corp increased its holdings in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company's stock worth $123,000 after purchasing an additional 5 shares in the last quarter. Mount Lucas Management LP increased its stake in shares of MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company's stock valued at $293,000 after acquiring an additional 5 shares in the last quarter. Strategic Blueprint LLC lifted its position in shares of MercadoLibre by 0.9% during the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company's stock valued at $1,350,000 after acquiring an additional 6 shares during the period. NBC Securities Inc. boosted its stake in MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company's stock worth $55,000 after acquiring an additional 7 shares in the last quarter. Finally, 1620 Investment Advisors Inc. grew its holdings in MercadoLibre by 3.7% in the third quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company's stock worth $407,000 after purchasing an additional 7 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,947.32 on Friday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company's 50 day moving average price is $1,841.64 and its two-hundred day moving average price is $1,914.92. The stock has a market cap of $98.73 billion, a P/E ratio of 68.71, a P/E/G ratio of 1.00 and a beta of 1.60. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre 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 sale, the director now owns 238 shares of the company's stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Barclays cut their price target 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. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating for the company in a report on Thursday, November 7th. Wedbush cut their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating on the stock in a report on Monday, January 6th. Finally, Raymond James upgraded shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. Two equities 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 stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $2,244.69.

MercadoLibre Company 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.