MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 21.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 567 shares of the company’s stock after selling 154 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in MercadoLibre were worth $1,144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. grew its stake in MercadoLibre by 5.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 902 shares of the company’s stock valued at $1,482,000 after acquiring an additional 48 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of MercadoLibre by 2.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 7,438 shares of the company’s stock valued at $12,224,000 after purchasing an additional 194 shares during the last quarter. First Horizon Advisors Inc. grew its position in MercadoLibre by 7.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 163 shares of the company’s stock valued at $268,000 after acquiring an additional 12 shares in the last quarter. Focus Financial Network Inc. raised its position in MercadoLibre by 44.6% in the 2nd quarter. Focus Financial Network Inc. now owns 256 shares of the company’s stock valued at $428,000 after purchasing an additional 79 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of MercadoLibre by 1.0% during the second quarter. Fifth Third Bancorp now owns 1,760 shares of the company’s stock worth $2,892,000 after purchasing an additional 17 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $99,249.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,809.12 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The firm has a market cap of $91.72 billion, a P/E ratio of 63.84, a P/E/G ratio of 1.29 and a beta of 1.57. The firm has a 50 day simple moving average of $1,985.52 and a 200 day simple moving average of $1,884.07.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MELI. Raymond James started coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Redburn Atlantic started coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. BTIG Research dropped their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Bank of America increased their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,267.67.

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.