Sugarloaf Wealth Management LLC Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Sugarloaf Wealth Management LLC grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1,900.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60 shares of the company’s stock after acquiring an additional 57 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in MercadoLibre were worth $102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MELI. Planning Capital Management Corp boosted its position in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the last quarter. Mount Lucas Management LP raised its stake in shares of MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after purchasing an additional 5 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after buying an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC increased its holdings in MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after buying an additional 6 shares during the last quarter. Finally, Strategic Blueprint LLC raised its position in MercadoLibre by 0.9% in the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after acquiring an additional 6 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MELI shares. Morgan Stanley decreased their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Citigroup reduced their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,247.67.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction that occurred on 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 $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,758.77 on Friday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The stock has a fifty day moving average of $1,871.83 and a 200 day moving average of $1,897.76. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market capitalization of $89.16 billion, a price-to-earnings ratio of 62.06, a P/E/G ratio of 1.24 and a beta of 1.60.

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.