Harvest Fund Management Co. Ltd increased its position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 21.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,785 shares of the company’s stock after buying an additional 674 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in MercadoLibre were worth $7,624,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Curio Wealth LLC bought a new stake in MercadoLibre during the 4th quarter valued at $30,000. Vise Technologies Inc. raised its holdings in MercadoLibre by 30.9% during the 4th quarter. Vise Technologies Inc. now owns 419 shares of the company’s stock valued at $844,000 after buying an additional 99 shares during the last quarter. Ted Buchan & Co raised its holdings in MercadoLibre by 5.6% during the 4th quarter. Ted Buchan & Co now owns 1,183 shares of the company’s stock valued at $2,383,000 after buying an additional 63 shares during the last quarter. Verus Capital Partners LLC raised its holdings in MercadoLibre by 25.0% during the 4th quarter. Verus Capital Partners LLC now owns 130 shares of the company’s stock valued at $262,000 after buying an additional 26 shares during the last quarter. Finally, Intellectus Partners LLC bought a new stake in MercadoLibre during the 4th quarter valued at $552,000. 87.62% of the stock is currently owned by institutional investors.
MercadoLibre Stock Down 0.2%
NASDAQ:MELI opened at $1,634.78 on Friday. The firm’s 50-day moving average price is $1,721.45 and its 200-day moving average price is $1,889.82. The company has a market capitalization of $82.88 billion, a PE ratio of 43.15, a P/E/G ratio of 1.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Benchmark decreased their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Scotiabank decreased their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.
Read Our Latest Research Report on MELI
Insider Buying and Selling at MercadoLibre
In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.
MercadoLibre Profile
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
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