National Bank of Canada FI Boosts Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

National Bank of Canada FI raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 142.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,521 shares of the company's stock after purchasing an additional 9,699 shares during the quarter. National Bank of Canada FI's holdings in MercadoLibre were worth $33,900,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. D.B. Root & Company LLC purchased a new position in MercadoLibre in the 2nd quarter valued at $419,000. Dynamic Advisor Solutions LLC raised its holdings in MercadoLibre by 1.9% during the second quarter. Dynamic Advisor Solutions LLC now owns 837 shares of the company's stock worth $1,376,000 after purchasing an additional 16 shares in the last quarter. Alpha Cubed Investments LLC lifted its position in MercadoLibre by 4.1% in the second quarter. Alpha Cubed Investments LLC now owns 201 shares of the company's stock valued at $330,000 after purchasing an additional 8 shares during the period. NorthCrest Asset Manangement LLC lifted its position in MercadoLibre by 1.7% in the second quarter. NorthCrest Asset Manangement LLC now owns 8,390 shares of the company's stock valued at $13,788,000 after purchasing an additional 140 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in MercadoLibre by 4.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,582 shares of the company's stock valued at $4,243,000 after purchasing an additional 100 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred 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 transaction, the director now directly owns 238 shares of the company's stock, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Morgan Stanley reduced their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a report on Monday, November 11th. Barclays reduced their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. Citigroup cut their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a report on Tuesday, November 26th. Wedbush restated an "outperform" rating and set a $2,200.00 target price (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating for the company in a research report on Wednesday, November 13th. 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,267.67.

MercadoLibre Trading Down 5.3 %

Shares of MELI stock traded down $102.88 during trading hours on Monday, hitting $1,844.30. 583,192 shares of the company were exchanged, compared to its average volume of 369,864. The firm has a fifty day moving average of $2,002.64 and a 200 day moving average of $1,878.11. 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 1 year low of $1,324.99 and a 1 year high of $2,161.73. The firm has a market cap of $93.51 billion, a PE ratio of 65.08, a PEG ratio of 1.33 and a beta of 1.57.

MercadoLibre Company 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.