Manning & Napier Advisors LLC Buys 249 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Manning & Napier Advisors LLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 68,261 shares of the company's stock after acquiring an additional 249 shares during the quarter. MercadoLibre makes up approximately 1.3% of Manning & Napier Advisors LLC's holdings, making the stock its 26th biggest position. Manning & Napier Advisors LLC owned about 0.13% of MercadoLibre worth $116,074,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacific Capital Wealth Advisors Inc. lifted its holdings in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after buying an additional 11 shares in the last quarter. Optimum Investment Advisors raised its stake in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company's stock valued at $35,000 after acquiring an additional 15 shares in the last quarter. Grove Bank & Trust grew its stake in MercadoLibre by 120.0% in the fourth quarter. Grove Bank & Trust now owns 22 shares of the company's stock worth $37,000 after purchasing an additional 12 shares in the last quarter. Quarry LP purchased a new position in MercadoLibre during the 2nd quarter worth $43,000. Finally, Legacy Bridge LLC lifted its holdings in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company's stock worth $47,000 after buying an additional 8 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 3.0 %

MELI stock traded up $57.56 during midday trading on Thursday, reaching $1,947.32. 482,086 shares of the company's stock traded hands, compared to its average volume of 334,685. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The business has a 50-day moving average price of $1,841.64 and a two-hundred day moving average price of $1,914.92. The company has a market capitalization of $98.73 billion, a P/E ratio of 68.71, 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.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday. Morgan Stanley cut their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. 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. Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a research report on Tuesday, November 12th. Finally, Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, MercadoLibre presently has a consensus rating of "Buy" and an average price target of $2,244.69.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the 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 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 legal filing with the SEC, which is available through this link. 0.06% of the stock is owned by company insiders.

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.