MMA Asset Management LLC Boosts Stock Holdings in MercadoLibre, Inc. $MELI

MMA Asset Management LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 102.0% in the third quarter, Holdings Channel.com reports. The fund owned 606 shares of the company’s stock after acquiring an additional 306 shares during the quarter. MMA Asset Management LLC’s holdings in MercadoLibre were worth $1,416,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MELI. Bison Wealth LLC purchased a new position in MercadoLibre in the 4th quarter valued at $206,000. Empowered Funds LLC grew its holdings in shares of MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after buying an additional 49 shares in the last quarter. Focus Partners Wealth raised its position in shares of MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after buying an additional 178 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of MercadoLibre in the second quarter worth about $261,000. Finally, Valmark Advisers Inc. acquired a new position in MercadoLibre during the second quarter worth about $254,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Down 3.2%

MELI opened at $1,970.15 on Friday. The stock has a market capitalization of $99.89 billion, a PE ratio of 48.08, a P/E/G ratio of 1.01 and a beta of 1.44. MercadoLibre, Inc. has a one year low of $1,723.90 and a one year 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. The business’s 50 day moving average price is $2,074.84 and its 200 day moving average price is $2,206.74.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Wedbush dropped their price target on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a research report on Friday, December 19th. Susquehanna cut their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. Zacks Research lowered MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Finally, Morgan Stanley upped their target price on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2,876.88.

Insider Activity

In related news, Director Emiliano Calemzuk sold 45 shares of the business’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 sale, the director directly owned 257 shares in the company, valued at approximately $521,034.09. The trade was a 14.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,136 shares of company stock valued at $2,308,788 in the last quarter. Insiders own 0.25% of the company’s stock.

About MercadoLibre

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.