MercadoLibre, Inc. (NASDAQ:MELI) is Strategic Financial Concepts LLC’s 2nd Largest Position

Strategic Financial Concepts LLC boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 169,952.3% in the 4th quarter, Holdings Channel reports. The firm owned 181,956 shares of the company’s stock after acquiring an additional 181,849 shares during the quarter. MercadoLibre accounts for about 9.5% of Strategic Financial Concepts LLC’s portfolio, making the stock its 2nd largest position. Strategic Financial Concepts LLC’s holdings in MercadoLibre were worth $309,405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MELI. Planning Capital Management Corp raised its position in shares of MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after buying an additional 5 shares during the last quarter. Mount Lucas Management LP grew its stake in MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after acquiring an additional 5 shares in the last quarter. Strategic Blueprint LLC raised its holdings in MercadoLibre by 0.9% in the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after acquiring an additional 6 shares during the last quarter. Nvwm LLC lifted its stake in MercadoLibre by 0.5% in the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after purchasing an additional 6 shares in the last quarter. Finally, NBC Securities Inc. boosted its holdings in shares of MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MELI. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. Barclays reduced their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Citigroup dropped their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Buy” and an average target price of $2,244.69.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,109.99 on Friday. The company has a market cap of $106.98 billion, a P/E ratio of 74.45, a P/E/G ratio of 1.06 and a beta of 1.62. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. 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 stock has a 50-day moving average of $1,840.51 and a two-hundred day moving average of $1,941.01.

Insider Activity at MercadoLibre

In other MercadoLibre 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 completion of the transaction, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.06% of the company’s stock.

MercadoLibre 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.