Graham Capital Management L.P. trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 21.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,898 shares of the company’s stock after selling 1,069 shares during the quarter. Graham Capital Management L.P.’s holdings in MercadoLibre were worth $7,852,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the second quarter valued at $29,000. Laurel Wealth Advisors LLC bought a new stake in MercadoLibre in the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre in the fourth quarter valued at $26,000. Curio Wealth LLC bought a new stake in MercadoLibre in the fourth quarter valued at $30,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in MercadoLibre in the third quarter valued at $35,000. 87.62% of the stock is currently owned by institutional investors.
MercadoLibre Price Performance
Shares of NASDAQ MELI opened at $1,674.08 on Wednesday. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,645.22. The firm’s 50-day simple moving average is $1,713.47 and its 200 day simple moving average is $1,867.47. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The stock has a market cap of $84.88 billion, a P/E ratio of 44.18, a P/E/G ratio of 1.01 and a beta of 1.36.
Insider Buying and Selling at MercadoLibre
In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
MELI has been the topic of a number of recent research reports. Barclays cut their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Benchmark cut their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Finally, Scotiabank cut their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.
View Our Latest Research Report on MELI
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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