Zhang Financial LLC Acquires 116 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Zhang Financial LLC boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 16.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 802 shares of the company’s stock after purchasing an additional 116 shares during the quarter. Zhang Financial LLC’s holdings in MercadoLibre were worth $1,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new position in shares of MercadoLibre during the third quarter valued at $114,417,000. Principal Financial Group Inc. increased its stake in MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares in the last quarter. KBC Group NV increased its stake in MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Nordea Investment Management AB raised its holdings in MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after buying an additional 43,215 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after buying an additional 780 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.1 %

NASDAQ:MELI opened at $1,836.00 on Monday. The firm has a market capitalization of $93.09 billion, a price-to-earnings ratio of 64.78, a price-to-earnings-growth ratio of 0.92 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. The business has a fifty day moving average price of $1,853.58 and a 200-day moving average price of $1,905.33. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73.

Analysts Set New Price Targets

Several brokerages recently weighed in on MELI. Barclays reduced their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Cantor Fitzgerald decreased their price target on 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. Citigroup lowered their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Raymond James assumed coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of 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. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,247.67.

Insiders Place Their Bets

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

MercadoLibre Company 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.