Kingswood Wealth Advisors LLC Invests $481,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Kingswood Wealth Advisors LLC purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 283 shares of the company’s stock, valued at approximately $481,000.

Other hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in shares of MercadoLibre in the 3rd quarter worth $114,417,000. Principal Financial Group Inc. increased its holdings in MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after buying an additional 10,272 shares in the last quarter. KBC Group NV raised its position in MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after buying an additional 17,677 shares during the last quarter. Nordea Investment Management AB lifted its stake in MercadoLibre by 37.8% during the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after acquiring an additional 43,215 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of MercadoLibre by 40.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after acquiring an additional 780 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre 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. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

MercadoLibre Stock Up 3.0 %

Shares of MELI stock opened at $1,947.32 on Friday. The company has a market capitalization of $98.73 billion, a price-to-earnings ratio of 68.71, a PEG ratio of 0.96 and a beta of 1.60. 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’s fifty day moving average price is $1,841.64 and its 200-day moving average price is $1,914.92. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MELI. Barclays decreased 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 report on Tuesday, November 12th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price for the company. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Citigroup reduced their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, BTIG Research dropped their target price 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. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $2,244.69.

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.