M&T Bank Corp Sells 819 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

M&T Bank Corp reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 20.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,131 shares of the company's stock after selling 819 shares during the period. M&T Bank Corp's holdings in MercadoLibre were worth $6,424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in MELI. Raymond James & Associates raised its position in shares of MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company's stock valued at $57,256,000 after buying an additional 1,604 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in MercadoLibre in the 3rd quarter valued at $114,417,000. KBC Group NV lifted its position in shares of MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company's stock valued at $53,923,000 after acquiring an additional 17,677 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of MercadoLibre by 40.0% during the 3rd 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 in the last quarter. Finally, Caprock Group LLC increased its position in shares of MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company's stock worth $955,000 after purchasing an additional 342 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of analyst reports. Morgan Stanley reduced their price objective on shares of 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. Raymond James started 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. JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating for the company in a research note on Wednesday, November 13th. Cantor Fitzgerald decreased 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. Finally, Wedbush restated an "outperform" rating and set a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Three investment 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $2,267.67.

MercadoLibre Trading Down 1.4 %

MELI stock traded down $27.10 during midday trading on Thursday, hitting $1,870.77. The stock had a trading volume of 231,929 shares, compared to its average volume of 369,028. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market cap of $94.84 billion, a P/E ratio of 66.97, a price-to-earnings-growth ratio of 1.33 and a beta of 1.57. The business has a fifty day moving average price of $1,997.44 and a two-hundred day moving average price of $1,879.54. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

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.