Resurgent Financial Advisors LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 346 shares of the company's stock, valued at approximately $710,000.
Other large investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company's stock valued at $28,000 after purchasing an additional 16 shares in the last quarter. Optimum Investment Advisors lifted its position in shares of MercadoLibre by 750.0% during the 3rd 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. bought a new position in shares of MercadoLibre during the 2nd quarter worth approximately $36,000. Quarry LP bought a new position in shares of MercadoLibre during the 2nd quarter worth approximately $43,000. Finally, Legacy Bridge LLC lifted its position in shares of MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company's stock worth $47,000 after buying an additional 8 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Barclays cut their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating for the company in a research report on Tuesday, November 12th. The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a "buy" rating in a research note on Thursday, August 8th. BTIG Research cut their target price on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Raymond James started coverage on MercadoLibre in a research report on Friday, September 27th. They set an "outperform" rating and a $2,350.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on 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 research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $2,267.67.
Check Out Our Latest Analysis on MercadoLibre
Insider Buying and Selling at MercadoLibre
In related 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 owns 238 shares of the company's stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company's stock.
MercadoLibre Trading Down 0.1 %
NASDAQ MELI traded down $2.48 during trading hours on Thursday, hitting $1,984.95. The company's stock had a trading volume of 325,495 shares, compared to its average volume of 369,206. 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 capitalization of $100.64 billion, a P/E ratio of 70.04, a PEG ratio of 1.31 and a beta of 1.57. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a fifty day moving average of $2,009.14 and a 200 day moving average of $1,874.33.
MercadoLibre Profile
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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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