TenCore Partners LP Sells 802 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

TenCore Partners LP decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 16.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,012 shares of the company's stock after selling 802 shares during the period. MercadoLibre makes up about 3.9% of TenCore Partners LP's holdings, making the stock its 9th largest holding. TenCore Partners LP's holdings in MercadoLibre were worth $8,232,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Stansberry Asset Management LLC raised its holdings in MercadoLibre by 3.4% in the 3rd quarter. Stansberry Asset Management LLC now owns 2,837 shares of the company's stock worth $5,821,000 after acquiring an additional 92 shares during the last quarter. State Street Corp boosted its stake in MercadoLibre by 3.1% during the third quarter. State Street Corp now owns 404,584 shares of the company's stock valued at $830,190,000 after buying an additional 12,000 shares during the last quarter. Quantinno Capital Management LP increased its position in MercadoLibre by 14.1% during the third quarter. Quantinno Capital Management LP now owns 3,652 shares of the company's stock valued at $7,494,000 after acquiring an additional 451 shares during the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of MercadoLibre in the third quarter worth approximately $710,000. Finally, NFJ Investment Group LLC lifted its position in shares of MercadoLibre by 144.0% in the 3rd quarter. NFJ Investment Group LLC now owns 244 shares of the company's stock worth $501,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock traded down $22.45 during trading on Friday, hitting $1,962.50. 153,198 shares of the company were exchanged, compared to its average volume of 368,262. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The stock has a market capitalization of $99.50 billion, a price-to-earnings ratio of 70.04, a P/E/G ratio of 1.31 and a beta of 1.57. The firm has a 50 day moving average price of $2,009.14 and a 200 day moving average price of $1,874.33. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Insider Buying and Selling at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the transaction, the director now owns 238 shares of the company's stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of research analyst reports. Susquehanna increased their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a "positive" rating in a research note on Wednesday, August 28th. StockNews.com cut MercadoLibre from a "buy" rating to a "hold" rating in a research report on Saturday, August 10th. Barclays lowered their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. Bank of America boosted their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. Finally, Citigroup cut their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research note on Tuesday, November 26th. Three 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $2,267.67.

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.