Sanctuary Advisors LLC Cuts Position in MercadoLibre, Inc. (NASDAQ:MELI)

Sanctuary Advisors LLC lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 21.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,847 shares of the company's stock after selling 499 shares during the period. Sanctuary Advisors LLC's holdings in MercadoLibre were worth $3,704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Planning Capital Management Corp increased its holdings in MercadoLibre by 9.1% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company's stock valued at $123,000 after acquiring an additional 5 shares during the last quarter. Mount Lucas Management LP lifted its position in shares of MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company's stock worth $293,000 after buying an additional 5 shares in the last quarter. Belpointe Asset Management LLC boosted its stake in MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company's stock valued at $1,016,000 after buying an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company's stock worth $2,419,000 after purchasing an additional 6 shares during the last quarter. Finally, Evolutionary Tree Capital Management LLC raised its position in shares of MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company's stock valued at $3,403,000 after buying an additional 6 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Cantor Fitzgerald cut their target price 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. Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They issued a "buy" rating and a $2,800.00 target price on the stock. BTIG Research lowered 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. Morgan Stanley decreased their price objective 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. Finally, JPMorgan Chase & Co. dropped their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a "neutral" rating on the stock in a report on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,267.67.

Insider Buying and Selling at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction 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 in the company, 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 SEC, which is available at this hyperlink. Company insiders own 0.06% of the company's stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded up $12.40 on Tuesday, hitting $1,809.12. 514,558 shares of the company were exchanged, compared to its average volume of 370,601. 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 stock's 50 day moving average price is $1,989.62 and its 200 day moving average price is $1,883.48. 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 capitalization of $91.72 billion, a P/E ratio of 64.05, a price-to-earnings-growth ratio of 1.29 and a beta of 1.57.

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.