Chicago Capital LLC Decreases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Chicago Capital LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,829 shares of the company’s stock after selling 88 shares during the quarter. Chicago Capital LLC’s holdings in MercadoLibre were worth $6,511,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its stake in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the last quarter. FMR LLC lifted its stake in MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the last quarter. State Street Corp lifted its stake in MercadoLibre by 3.1% in the third quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after buying an additional 12,000 shares during the last quarter. Wellington Management Group LLP lifted its stake in MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after buying an additional 120,922 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated 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 transaction, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MELI has been the subject of a number of research reports. Redburn Atlantic initiated coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley dropped their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. 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 report on Thursday, November 7th. Finally, Wedbush dropped their target price 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. 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 stock. According to data from MarketBeat, MercadoLibre has a consensus rating of “Buy” and a consensus price target of $2,244.69.

MercadoLibre Stock Down 1.3 %

Shares of NASDAQ:MELI opened at $1,922.19 on Monday. The stock’s fifty day simple moving average is $1,839.63 and its 200-day simple moving average is $1,917.75. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a market capitalization of $97.46 billion, a P/E ratio of 67.83, a P/E/G ratio of 1.02 and a beta of 1.62. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre 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.