Congress Park Capital LLC Sells 61 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Congress Park Capital LLC reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,964 shares of the company’s stock after selling 61 shares during the quarter. MercadoLibre comprises 3.1% of Congress Park Capital LLC’s portfolio, making the stock its 8th biggest position. Congress Park Capital LLC’s holdings in MercadoLibre were worth $8,441,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by insiders.

MercadoLibre Stock Down 0.1 %

MELI stock opened at $1,837.18 on Friday. The company has a market cap of $93.15 billion, a price-to-earnings ratio of 64.83, a P/E/G ratio of 0.92 and a beta of 1.60. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The business has a 50 day moving average price of $1,853.04 and a two-hundred day moving average price of $1,901.98. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Analysts Set New Price Targets

A number of research firms have recently commented on MELI. BTIG Research dropped 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. Raymond James began coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. Morgan Stanley dropped their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Citigroup reduced their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Finally, Redburn Atlantic initiated coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,247.67.

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.