Cumberland Partners Ltd Grows Stake in MercadoLibre, Inc. $MELI

Cumberland Partners Ltd boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 19.0% during the 3rd quarter, Holdings Channel reports. The firm owned 2,500 shares of the company’s stock after buying an additional 400 shares during the period. Cumberland Partners Ltd’s holdings in MercadoLibre were worth $5,842,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MELI. Bison Wealth LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $206,000. Empowered Funds LLC grew its stake in MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after acquiring an additional 49 shares in the last quarter. Focus Partners Wealth increased its holdings in MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after acquiring an additional 178 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in MercadoLibre in the 2nd quarter worth $261,000. Finally, Yousif Capital Management LLC lifted its stake in MercadoLibre by 6.0% in the 2nd quarter. Yousif Capital Management LLC now owns 142 shares of the company’s stock worth $371,000 after purchasing an additional 8 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MELI. Wedbush reduced their target price on MercadoLibre from $2,700.00 to $2,600.00 and set an “outperform” rating on the stock in a report on Tuesday. Cantor Fitzgerald cut their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Morgan Stanley upped their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. upgraded shares of MercadoLibre from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $2,650.00 to $2,800.00 in a research report on Thursday, February 12th. Finally, Benchmark lowered their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,880.00.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,009.05 on Thursday. The firm has a market capitalization of $101.86 billion, a PE ratio of 49.03, a PEG ratio of 0.98 and a beta of 1.44. The stock’s fifty day moving average is $2,062.99 and its 200 day moving average is $2,184.72. MercadoLibre, Inc. has a fifty-two week low of $1,723.90 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the sale, the director owned 257 shares of the company’s stock, valued at $521,034.09. This trade represents a 14.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is currently owned by company insiders.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.