MercadoLibre, Inc. (NASDAQ:MELI) Stock Holdings Increased by GAMMA Investing LLC

GAMMA Investing LLC lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 123.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29 shares of the company’s stock after purchasing an additional 16 shares during the quarter. GAMMA Investing LLC’s holdings in MercadoLibre were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Principal Financial Group Inc. lifted its position in shares of MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after purchasing an additional 10,272 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in MercadoLibre by 10.2% in the third quarter. Lord Abbett & CO. LLC now owns 107,525 shares of the company’s stock worth $220,637,000 after buying an additional 9,910 shares during the last quarter. Tidal Investments LLC increased its holdings in MercadoLibre by 59.7% in the third quarter. Tidal Investments LLC now owns 15,829 shares of the company’s stock worth $32,480,000 after buying an additional 5,918 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in MercadoLibre in the third quarter worth approximately $977,000. Finally, World Investment Advisors LLC increased its holdings in MercadoLibre by 35.7% in the third quarter. World Investment Advisors LLC now owns 475 shares of the company’s stock worth $975,000 after buying an additional 125 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MELI has been the topic of a number of research reports. Wedbush dropped their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Citigroup dropped their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Raymond James initiated coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. Finally, Cantor Fitzgerald lowered their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,247.67.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value 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. This trade 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 is available through this hyperlink. 0.06% of the stock is owned by company insiders.

MercadoLibre Stock Down 1.1 %

MELI opened at $1,740.00 on Tuesday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year 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 market capitalization of $88.21 billion, a price-to-earnings ratio of 61.40, a P/E/G ratio of 1.24 and a beta of 1.60. The business has a 50 day moving average of $1,865.35 and a 200-day moving average of $1,901.65.

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.