Adalta Capital Management LLC Purchases 92 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Adalta Capital Management LLC increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,701 shares of the company’s stock after purchasing an additional 92 shares during the quarter. MercadoLibre makes up about 1.8% of Adalta Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Adalta Capital Management LLC’s holdings in MercadoLibre were worth $3,490,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. D.B. Root & Company LLC bought a new position in shares of MercadoLibre during the second quarter valued at approximately $419,000. Dynamic Advisor Solutions LLC raised its stake in MercadoLibre by 1.9% during the second quarter. Dynamic Advisor Solutions LLC now owns 837 shares of the company’s stock valued at $1,376,000 after buying an additional 16 shares during the last quarter. Alpha Cubed Investments LLC boosted its holdings in MercadoLibre by 4.1% in the second quarter. Alpha Cubed Investments LLC now owns 201 shares of the company’s stock worth $330,000 after acquiring an additional 8 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in shares of MercadoLibre by 1.7% in the second quarter. NorthCrest Asset Manangement LLC now owns 8,390 shares of the company’s stock worth $13,788,000 after acquiring an additional 140 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of MercadoLibre by 4.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,582 shares of the company’s stock valued at $4,243,000 after acquiring an additional 100 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other MercadoLibre 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 transaction, the director now owns 238 shares of the company’s stock, valued at $472,425.24. The trade was 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 the SEC website. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

MELI has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Morgan Stanley dropped 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. Bank of America raised their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, Wedbush reissued an “outperform” rating and issued a $2,200.00 target price (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

MercadoLibre Stock Down 1.9 %

Shares of MELI stock opened at $1,947.18 on Monday. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a 50 day simple moving average of $2,006.79 and a two-hundred day simple moving average of $1,877.14. 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 cap of $98.72 billion, a P/E ratio of 68.71, a P/E/G ratio of 1.33 and a beta of 1.57.

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.