Sanctuary Advisors LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 21.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,847 shares of the company's stock after selling 499 shares during the quarter. Sanctuary Advisors LLC's holdings in MercadoLibre were worth $3,704,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the stock. Planning Capital Management Corp lifted its holdings in shares of MercadoLibre by 9.1% during the third 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 period. Mount Lucas Management LP increased its position in shares of MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company's stock worth $293,000 after purchasing an additional 5 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in MercadoLibre by 1.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company's stock valued at $1,016,000 after purchasing an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. boosted 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 valued at $2,419,000 after buying an additional 6 shares in the last quarter. Finally, Evolutionary Tree Capital Management LLC grew its stake in MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company's stock worth $3,403,000 after buying an additional 6 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.
MELI opened at $1,796.72 on Tuesday. The company has a fifty day moving average price of $1,989.62 and a two-hundred day moving average price of $1,883.48. The firm has a market capitalization of $91.09 billion, a PE ratio of 63.40, a P/E/G ratio of 1.29 and a beta of 1.57. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.
A number of research analysts have recently issued reports on the stock. Raymond James began coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an "outperform" rating and a $2,350.00 target price for the company. Redburn Atlantic initiated coverage on MercadoLibre in a research note on Friday, October 11th. They issued a "buy" rating and a $2,800.00 price objective on the stock. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a "buy" rating in a research note on Thursday, September 12th. Barclays reduced their price target on shares of 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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 equities 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $2,267.67.
Read Our Latest Stock Report on MercadoLibre
In other MercadoLibre 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.
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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