Spectrum Asset Management Inc. NB CA Reduces Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Spectrum Asset Management Inc. NB CA cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 35.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 142 shares of the company’s stock after selling 79 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in MercadoLibre were worth $241,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Strategic Financial Concepts LLC lifted its holdings in MercadoLibre by 169,952.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after acquiring an additional 181,849 shares during the last quarter. Leo Wealth LLC raised its position in MercadoLibre by 53.4% in the fourth quarter. Leo Wealth LLC now owns 623 shares of the company’s stock valued at $1,060,000 after purchasing an additional 217 shares during the period. Deltec Asset Management LLC lifted its stake in shares of MercadoLibre by 7.7% in the 4th quarter. Deltec Asset Management LLC now owns 1,400 shares of the company’s stock valued at $2,381,000 after purchasing an additional 100 shares during the last quarter. Nvwm LLC grew its holdings in shares of MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after purchasing an additional 6 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in MercadoLibre by 76.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,173 shares of the company’s stock valued at $50,898,000 after buying an additional 13,081 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MELI. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Wedbush reduced their price target on shares of 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. Finally, New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Buy” and an average price target of $2,244.69.

Insider Buying and Selling at MercadoLibre

In related 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 transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,012.80 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The business has a fifty day moving average of $1,831.55 and a 200-day moving average of $1,924.10. The stock has a market cap of $102.05 billion, a price-to-earnings ratio of 71.02, a price-to-earnings-growth ratio of 1.02 and a beta of 1.62.

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.