Trivant Custom Portfolio Group LLC Buys 388 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Trivant Custom Portfolio Group LLC boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 776.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 438 shares of the company’s stock after acquiring an additional 388 shares during the quarter. Trivant Custom Portfolio Group LLC’s holdings in MercadoLibre were worth $745,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Merit Financial Group LLC grew its position in MercadoLibre by 24.6% during the fourth quarter. Merit Financial Group LLC now owns 703 shares of the company’s stock valued at $1,195,000 after acquiring an additional 139 shares during the last quarter. Avanza Fonder AB purchased a new stake in shares of MercadoLibre in the 4th quarter valued at $7,077,000. Truefg LLC grew its holdings in shares of MercadoLibre by 25.7% during the 4th quarter. Truefg LLC now owns 269 shares of the company’s stock valued at $457,000 after purchasing an additional 55 shares during the last quarter. Yarbrough Capital LLC purchased a new position in MercadoLibre in the 4th quarter worth $4,404,000. Finally, Legacy Wealth Asset Management LLC lifted its stake in MercadoLibre by 4.5% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 416 shares of the company’s stock worth $707,000 after purchasing an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’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 completion of the transaction, the director now owns 238 shares of the company’s stock, valued at approximately $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 accessible through this link. 0.06% of the stock is owned by corporate insiders.

MercadoLibre Stock Down 0.1 %

Shares of NASDAQ:MELI opened at $1,836.00 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The firm has a market capitalization of $93.09 billion, a P/E ratio of 64.78, a P/E/G ratio of 0.92 and a beta of 1.60. The stock has a 50 day moving average price of $1,854.30 and a 200-day moving average price of $1,901.53.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MELI. Wedbush reduced their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Raymond James assumed coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. Barclays dropped their price objective on 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. Morgan Stanley decreased their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. dropped 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 report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,247.67.

MercadoLibre Company 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.