Empowered Funds LLC Raises Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Empowered Funds LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.0% during the 4th quarter, HoldingsChannel reports. The fund owned 711 shares of the company’s stock after acquiring an additional 14 shares during the quarter. Empowered Funds LLC’s holdings in MercadoLibre were worth $1,209,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Pacific Capital Wealth Advisors Inc. raised its position in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the period. Brown Lisle Cummings Inc. increased its holdings in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at about $32,000. Mather Group LLC. boosted its holdings in MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after acquiring an additional 12 shares during the period. Finally, Grove Bank & Trust grew its position in MercadoLibre by 120.0% during the 4th quarter. Grove Bank & Trust now owns 22 shares of the company’s stock worth $37,000 after acquiring an additional 12 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,109.99 on Monday. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The firm has a market capitalization of $106.98 billion, a P/E ratio of 74.45, a P/E/G ratio of 1.06 and a beta of 1.62. 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 business has a fifty day simple moving average of $1,840.51 and a two-hundred day simple moving average of $1,943.21.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on MELI shares. Morgan Stanley lowered their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Wedbush dropped their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Barclays lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $2,244.69.

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.