Royal London Asset Management Ltd. Sells 40,552 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Royal London Asset Management Ltd. reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 14.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 236,654 shares of the company's stock after selling 40,552 shares during the period. MercadoLibre comprises approximately 1.2% of Royal London Asset Management Ltd.'s portfolio, making the stock its 12th largest position. Royal London Asset Management Ltd. owned approximately 0.47% of MercadoLibre worth $485,605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC purchased a new position in MercadoLibre during the 3rd quarter worth $710,000. NFJ Investment Group LLC grew its holdings in shares of MercadoLibre by 144.0% during the third quarter. NFJ Investment Group LLC now owns 244 shares of the company's stock worth $501,000 after buying an additional 144 shares during the last quarter. IHT Wealth Management LLC increased its position in MercadoLibre by 5.9% in the 3rd quarter. IHT Wealth Management LLC now owns 342 shares of the company's stock valued at $702,000 after acquiring an additional 19 shares during the period. Ingalls & Snyder LLC raised its stake in shares of MercadoLibre by 5.7% during the third quarter. Ingalls & Snyder LLC now owns 370 shares of the company's stock worth $759,000 after purchasing an additional 20 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of MercadoLibre by 9.1% during the third quarter. Integrated Wealth Concepts LLC now owns 721 shares of the company's stock worth $1,479,000 after purchasing an additional 60 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Down 1.0 %

MELI stock traded down $20.55 during midday trading on Thursday, reaching $1,966.88. The stock had a trading volume of 121,779 shares, compared to its average volume of 368,280. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The firm has a market cap of $99.72 billion, a price-to-earnings ratio of 70.13, a PEG ratio of 1.31 and a beta of 1.57. The business has a fifty day simple moving average of $2,011.44 and a two-hundred day simple moving average of $1,873.56.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MELI. Raymond James initiated coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 price objective on the stock. Cantor Fitzgerald dropped their price target on 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. Citigroup dropped their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Redburn Atlantic began coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a "buy" rating and a $2,800.00 price target for the company. Finally, BTIG Research lowered their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a report 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus target price of $2,267.67.

Insider Activity at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the company's 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 directly owns 238 shares of the company's stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

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.