Empire Financial Management Company LLC Acquires 28 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Empire Financial Management Company LLC boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 21.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 159 shares of the company’s stock after purchasing an additional 28 shares during the quarter. Empire Financial Management Company LLC’s holdings in MercadoLibre were worth $326,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MELI. Chiron Investment Management LLC lifted its position in shares of MercadoLibre by 91.3% during the 3rd quarter. Chiron Investment Management LLC now owns 2,644 shares of the company’s stock valued at $5,425,000 after acquiring an additional 1,262 shares during the period. Coldstream Capital Management Inc. increased its stake in MercadoLibre by 122.0% in the third quarter. Coldstream Capital Management Inc. now owns 475 shares of the company’s stock valued at $945,000 after purchasing an additional 261 shares in the last quarter. Synergy Financial Group LTD raised its holdings in shares of MercadoLibre by 1.0% during the third quarter. Synergy Financial Group LTD now owns 1,543 shares of the company’s stock valued at $3,166,000 after purchasing an additional 16 shares during the period. Ashford Capital Management Inc. raised its holdings in shares of MercadoLibre by 11.1% during the third quarter. Ashford Capital Management Inc. now owns 1,203 shares of the company’s stock valued at $2,469,000 after purchasing an additional 120 shares during the period. Finally, Prestige Wealth Management Group LLC boosted its position in shares of MercadoLibre by 2,333.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 73 shares of the company’s stock worth $150,000 after purchasing an additional 70 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MELI. Barclays reduced 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. BTIG Research decreased their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Wedbush reaffirmed an “outperform” rating and issued a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, Citigroup dropped their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Stock Up 1.9 %

MELI stock opened at $1,879.18 on Wednesday. The stock has a fifty day moving average of $2,002.64 and a 200-day moving average of $1,878.11. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a market capitalization of $95.27 billion, a price-to-earnings ratio of 66.31, a PEG ratio of 1.33 and a beta of 1.57. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the 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 sale, the director now owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

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.