Wealth Alliance Has $338,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Wealth Alliance lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 199 shares of the company’s stock after selling 13 shares during the period. Wealth Alliance’s holdings in MercadoLibre were worth $338,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MELI. Swedbank AB grew its holdings in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares during the last quarter. Signaturefd LLC grew its holdings in MercadoLibre by 7.0% during the third quarter. Signaturefd LLC now owns 260 shares of the company’s stock valued at $534,000 after purchasing an additional 17 shares during the last quarter. Greenleaf Trust acquired a new position in MercadoLibre during the third quarter valued at approximately $271,000. International Assets Investment Management LLC grew its holdings in MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. grew its holdings in MercadoLibre by 5.2% during the third quarter. Beese Fulmer Investment Management Inc. now owns 181 shares of the company’s stock valued at $371,000 after purchasing an additional 9 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on MELI shares. BTIG Research lowered their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Wedbush reduced their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. 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 research report on Tuesday, November 26th. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $2,364.06.

MercadoLibre Stock Up 7.1 %

Shares of NASDAQ MELI opened at $2,260.00 on Friday. The stock has a market cap of $114.58 billion, a PE ratio of 79.75, a PEG ratio of 1.10 and a beta of 1.62. The business has a fifty day moving average of $1,867.29 and a two-hundred day moving average of $1,956.30. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. The company had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. As a group, equities research analysts expect that MercadoLibre, Inc. will post 32.98 earnings per share for the current fiscal year.

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.