Sumitomo Life Insurance Co. increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 190.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,200 shares of the company’s stock after buying an additional 2,100 shares during the period. Sumitomo Life Insurance Co.’s holdings in MercadoLibre were worth $5,441,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Pacific Capital Wealth Advisors Inc. lifted its stake in shares of MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the period. Optimum Investment Advisors lifted its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares during the period. Grove Bank & Trust boosted its holdings in shares of MercadoLibre by 120.0% during the 4th quarter. Grove Bank & Trust now owns 22 shares of the company’s stock worth $37,000 after buying an additional 12 shares in the last quarter. Legacy Bridge LLC increased its stake in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares in the last quarter. Finally, Quarry LP acquired a new stake in MercadoLibre in the second quarter worth $43,000. Institutional investors and hedge funds own 87.62% of the company’s stock.
MercadoLibre Stock Performance
MELI stock opened at $1,895.53 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market cap of $96.10 billion, a PE ratio of 66.89, a P/E/G ratio of 0.96 and a beta of 1.60. The business has a 50 day moving average of $1,842.89 and a 200-day moving average of $1,914.15. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73.
Insiders Place Their Bets
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on MELI shares. BTIG Research cut their price objective on shares of 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. Redburn Atlantic began coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target on the stock. Morgan Stanley reduced their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Wedbush cut 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. Finally, Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,241.00.
Check Out Our Latest Stock Report on MELI
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.
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