Franklin Resources Inc. decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 7.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 400,142 shares of the company's stock after selling 30,324 shares during the quarter. Franklin Resources Inc. owned about 0.79% of MercadoLibre worth $832,268,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company's stock worth $28,000 after purchasing an additional 16 shares during the period. Optimum Investment Advisors boosted 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 buying an additional 15 shares during the period. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre in the second quarter valued at $36,000. Quarry LP purchased a new stake in shares of MercadoLibre in the 2nd quarter valued at $43,000. Finally, Legacy Bridge LLC lifted its stake in MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company's stock worth $47,000 after acquiring an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.
MercadoLibre Stock Down 2.5 %
Shares of MercadoLibre stock traded down $46.91 during trading hours on Friday, hitting $1,823.86. The company had a trading volume of 410,986 shares, compared to its average volume of 369,192. The company's 50-day moving average is $1,995.67 and its two-hundred day moving average is $1,879.48. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve 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 company has a market cap of $92.47 billion, a P/E ratio of 66.01, a price-to-earnings-growth ratio of 1.29 and a beta of 1.57.
Insider Buying and Selling at MercadoLibre
In other news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction dated 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 directly owns 238 shares of the company's stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of analysts have issued reports on MELI shares. Wedbush reiterated an "outperform" rating and set a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. JPMorgan Chase & Co. reduced their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating on the stock in a report on Wednesday, November 13th. Redburn Atlantic assumed coverage on shares of MercadoLibre in a research report on Friday, October 11th. They issued a "buy" rating and a $2,800.00 price target for the company. Cantor Fitzgerald cut their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Finally, Susquehanna lifted their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a "positive" rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,267.67.
Get Our Latest Analysis on MELI
MercadoLibre Company Profile
(
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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