Van ECK Associates Corp Has $14.51 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Van ECK Associates Corp decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 58.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,536 shares of the company’s stock after selling 12,246 shares during the period. Van ECK Associates Corp’s holdings in MercadoLibre were worth $14,514,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. NBC Securities Inc. raised its stake in MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares in the last quarter. Swedbank AB raised its position in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after buying an additional 73,336 shares in the last quarter. Good Life Advisors LLC boosted its stake in shares of MercadoLibre by 45.3% in the third quarter. Good Life Advisors LLC now owns 231 shares of the company’s stock valued at $474,000 after buying an additional 72 shares during the period. Global Retirement Partners LLC grew its position in MercadoLibre by 1.0% during the third quarter. Global Retirement Partners LLC now owns 930 shares of the company’s stock worth $1,908,000 after buying an additional 9 shares in the last quarter. Finally, Optimum Investment Advisors increased its stake in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MELI. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Morgan Stanley lowered their price objective on shares of 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. Finally, Cantor Fitzgerald reduced their target price 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. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $2,244.69.

MercadoLibre Stock Up 2.1 %

NASDAQ:MELI opened at $2,109.99 on Friday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. 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 company has a market cap of $106.98 billion, a PE ratio of 74.45, a P/E/G ratio of 1.06 and a beta of 1.62. The firm’s 50 day simple moving average is $1,840.51 and its 200 day simple moving average is $1,941.01.

Insider Transactions at MercadoLibre

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 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. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.