INCA Investments LLC Acquires 5,018 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

INCA Investments LLC lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 52.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,559 shares of the company's stock after buying an additional 5,018 shares during the quarter. MercadoLibre makes up about 10.2% of INCA Investments LLC's investment portfolio, making the stock its 4th largest holding. INCA Investments LLC's holdings in MercadoLibre were worth $24,757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MELI. Public Employees Retirement System of Ohio acquired a new stake in MercadoLibre during the third quarter valued at approximately $114,417,000. Principal Financial Group Inc. raised its position in shares of MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock valued at $121,948,000 after acquiring an additional 10,272 shares in the last quarter. KBC Group NV lifted its stake in MercadoLibre by 205.5% during the third quarter. KBC Group NV now owns 26,279 shares of the company's stock worth $53,923,000 after purchasing an additional 17,677 shares during the last quarter. Nordea Investment Management AB lifted its stake in MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock worth $271,897,000 after purchasing an additional 43,215 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock worth $5,598,000 after purchasing an additional 780 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MercadoLibre stock traded down $11.24 during trading hours on Tuesday, hitting $2,098.75. 364,619 shares of the company traded hands, compared to its average volume of 329,790. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The firm has a market cap of $106.40 billion, a P/E ratio of 74.06, a P/E/G ratio of 1.06 and a beta of 1.62. The firm's 50-day simple moving average is $1,845.83 and its two-hundred day simple moving average is $1,948.69. 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 Activity at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the company's stock in a transaction 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MELI shares. Morgan Stanley reduced their price target on shares of 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. BTIG Research cut 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 report on Thursday, November 7th. New Street Research raised MercadoLibre from a "neutral" rating to a "buy" rating and upped their target price for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Finally, Citigroup lowered their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, MercadoLibre presently has an average rating of "Buy" and an average price target of $2,244.69.

About MercadoLibre

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.