Solidarity Wealth LLC Acquires New Position in MercadoLibre, Inc. (NASDAQ:MELI)

Solidarity Wealth LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, HoldingsChannel.com reports. The fund bought 300 shares of the company’s stock, valued at approximately $510,000.

A number of other hedge funds have also bought and sold shares of the stock. Jennison Associates LLC increased its position in shares of MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after acquiring an additional 70,154 shares during the period. FMR LLC increased its position in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after acquiring an additional 137,564 shares during the period. State Street Corp increased its position in shares of MercadoLibre by 3.1% in the 3rd quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after acquiring an additional 12,000 shares during the period. Wellington Management Group LLP increased its position in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after acquiring an additional 120,922 shares during the period. Finally, Legal & General Group Plc increased its position in shares of MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after acquiring an additional 11,265 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Cantor Fitzgerald cut their price target 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. BTIG Research cut their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. 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 research report on Monday, January 6th. 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 research report on Wednesday, January 8th. Finally, Citigroup dropped their target price on 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 equities research 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 stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,247.67.

Insider Activity at MercadoLibre

In related 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 value of $99,249.00. Following the completion of the sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction 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 insiders.

MercadoLibre Stock Down 0.1 %

Shares of NASDAQ MELI opened at $1,836.00 on Tuesday. The company has a 50 day simple moving average of $1,853.58 and a 200-day simple moving average of $1,907.54. The company has a market capitalization of $93.09 billion, a P/E ratio of 64.78, a P/E/G ratio of 0.98 and a beta of 1.60. 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 1 year low of $1,324.99 and a 1 year high of $2,161.73.

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.