Allworth Financial LP Grows Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Allworth Financial LP increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 102.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 687 shares of the company’s stock after buying an additional 348 shares during the period. Allworth Financial LP’s holdings in MercadoLibre were worth $1,250,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Planning Capital Management Corp boosted its stake in MercadoLibre by 9.1% during the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares during the period. Mount Lucas Management LP boosted its stake in MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after purchasing an additional 5 shares during the period. Strategic Blueprint LLC boosted its stake in MercadoLibre by 0.9% during the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after purchasing an additional 6 shares during the period. Nvwm LLC boosted its stake in MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after purchasing an additional 6 shares during the period. Finally, 1620 Investment Advisors Inc. boosted its stake in MercadoLibre by 3.7% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company’s stock valued at $407,000 after purchasing an additional 7 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Barclays reduced their price target 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. Citigroup reduced their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Buy” and a consensus price target of $2,244.69.

MercadoLibre Stock Down 1.1 %

MELI stock opened at $2,075.79 on Thursday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company’s 50 day simple moving average is $1,853.78 and its 200-day simple moving average is $1,951.83. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market capitalization of $105.24 billion, a P/E ratio of 73.25, a P/E/G ratio of 1.12 and a beta of 1.62.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

About MercadoLibre

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.