Clough Capital Partners L P lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 24.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,644 shares of the company’s stock after selling 1,195 shares during the period. Clough Capital Partners L P’s holdings in MercadoLibre were worth $6,301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre in the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre in the 4th quarter worth approximately $28,000. Darwin Wealth Management LLC purchased a new stake in MercadoLibre in the 2nd quarter worth approximately $29,000. Finally, Curio Wealth LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.
MercadoLibre Stock Performance
NASDAQ:MELI opened at $1,801.44 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company has a fifty day moving average of $1,705.94 and a two-hundred day moving average of $1,813.47. The stock has a market capitalization of $91.33 billion, a PE ratio of 47.54, a P/E/G ratio of 1.11 and a beta of 1.35. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on MELI shares. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. Morgan Stanley dropped their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Benchmark cut 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. 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 research report on Tuesday, April 21st. Finally, UBS Group lowered their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,258.67.
Check Out Our Latest Analysis on MercadoLibre
Insider Activity at MercadoLibre
In other news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by insiders.
About MercadoLibre
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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