Kingsview Wealth Management LLC Grows Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Kingsview Wealth Management LLC grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 459 shares of the company’s stock after acquiring an additional 33 shares during the quarter. Kingsview Wealth Management LLC’s holdings in MercadoLibre were worth $781,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MELI. Pacific Capital Wealth Advisors Inc. lifted its position in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. lifted its position in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in MercadoLibre during the fourth quarter worth approximately $32,000. Mather Group LLC. lifted its position in MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after buying an additional 12 shares in the last quarter. Finally, Optimum Investment Advisors lifted its position in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. BTIG Research reduced their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, January 21st. Citigroup reduced their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Wedbush reduced their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Finally, New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Buy” and an average price target of $2,244.69.

MercadoLibre Trading Down 0.9 %

Shares of NASDAQ MELI opened at $2,016.73 on Thursday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The stock has a fifty day simple moving average of $1,835.05 and a 200-day simple moving average of $1,936.15. The stock has a market capitalization of $102.25 billion, a PE ratio of 71.16, a PEG ratio of 1.06 and a beta of 1.62.

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.