Park Avenue Securities LLC Acquires 296 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Park Avenue Securities LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,774 shares of the company's stock after acquiring an additional 296 shares during the period. Park Avenue Securities LLC's holdings in MercadoLibre were worth $3,017,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Optimum Investment Advisors increased its position in MercadoLibre by 750.0% during 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. Quarry LP purchased a new position in shares of MercadoLibre during the second quarter valued at about $43,000. Legacy Bridge LLC raised its stake in MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company's stock worth $47,000 after buying an additional 8 shares in the last quarter. GAMMA Investing LLC raised its stake in MercadoLibre by 123.1% in the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company's stock worth $49,000 after buying an additional 16 shares in the last quarter. Finally, NBC Securities Inc. lifted its holdings in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company's stock worth $55,000 after buying an additional 7 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on MELI shares. Morgan Stanley decreased their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, November 11th. Wedbush lowered their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research report on Monday, January 6th. BTIG Research dropped their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Barclays decreased their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald dropped their price objective on shares of 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 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, MercadoLibre currently has an average rating of "Moderate Buy" and an average price target of $2,247.67.

MercadoLibre Stock Down 0.1 %

MELI stock traded down $1.18 during midday trading on Friday, hitting $1,836.00. The company's stock had a trading volume of 245,067 shares, compared to its average volume of 338,988. The company has a market cap of $93.09 billion, a PE ratio of 64.78, a P/E/G ratio of 0.92 and a beta of 1.60. The firm's 50-day moving average is $1,854.30 and its 200-day moving average is $1,901.53. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the business's 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.06% of the company's stock.

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.