Trivant Custom Portfolio Group LLC Purchases 388 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Trivant Custom Portfolio Group LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 776.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 438 shares of the company's stock after purchasing an additional 388 shares during the period. Trivant Custom Portfolio Group LLC's holdings in MercadoLibre were worth $745,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in MELI. Public Employees Retirement System of Ohio bought a new stake in MercadoLibre in the 3rd quarter valued at $114,417,000. Principal Financial Group Inc. increased its holdings in MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock valued at $121,948,000 after buying an additional 10,272 shares during the period. KBC Group NV raised its stake in shares of MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company's stock valued at $53,923,000 after buying an additional 17,677 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of MercadoLibre by 37.8% during the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock valued at $271,897,000 after acquiring an additional 43,215 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock valued at $5,598,000 after acquiring an additional 780 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MELI. 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 research note on Tuesday, November 26th. Raymond James assumed coverage on MercadoLibre in a research report on Friday, September 27th. They set an "outperform" rating and a $2,350.00 target price for the company. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Morgan Stanley cut their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating for the company in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,247.67.

MercadoLibre Trading Down 0.1 %

NASDAQ MELI traded down $1.18 during trading hours on Friday, hitting $1,836.00. The company's stock had a trading volume of 245,067 shares, compared to its average volume of 364,653. 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 twelve month low of $1,324.99 and a twelve month high of $2,161.73. The stock has a fifty day moving average of $1,853.58 and a 200 day moving average of $1,905.33. The firm has a market capitalization of $93.08 billion, a P/E ratio of 64.78, a PEG ratio of 0.92 and a beta of 1.60.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction dated Friday, November 29th. The stock was 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 in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by company insiders.

MercadoLibre 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.