ABS Direct Equity Fund LLC Has $1.03 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

ABS Direct Equity Fund LLC decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 65.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 500 shares of the company's stock after selling 928 shares during the quarter. MercadoLibre makes up approximately 1.1% of ABS Direct Equity Fund LLC's holdings, making the stock its 29th largest holding. ABS Direct Equity Fund LLC's holdings in MercadoLibre were worth $1,026,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of MercadoLibre by 1,600.0% in the 2nd 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 during the period. Optimum Investment Advisors lifted its stake in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company's stock valued at $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $36,000. Quarry LP acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $43,000. Finally, Legacy Bridge LLC lifted its stake in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company's stock valued at $47,000 after purchasing an additional 8 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Analysts Set New Price Targets

MELI has been the topic of several recent analyst reports. Susquehanna lifted their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a "positive" rating in a report on Wednesday, August 28th. Wedbush reissued an "outperform" rating and issued a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. Raymond James started coverage on MercadoLibre in a research note on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 price target on the stock. Citigroup dropped their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a research note on Tuesday, November 26th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $2,267.67.

MercadoLibre Price Performance

Shares of MELI stock traded up $34.88 during trading on Tuesday, hitting $1,879.18. The company had a trading volume of 393,078 shares, compared to its average volume of 369,965. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market capitalization of $95.27 billion, a P/E ratio of 66.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.57. The stock's 50-day moving average price is $2,002.64 and its 200 day moving average price is $1,878.11. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the company's 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 completion of the transaction, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.06% of the company's stock.

MercadoLibre 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.