Insider Selling: MercadoLibre, Inc. (NASDAQ:MELI) Director Sells 50 Shares of Stock

MercadoLibre, Inc. (NASDAQ:MELI) Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction on Friday, November 29th. The shares were 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 $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

MercadoLibre Stock Down 2.9 %

MELI stock traded down $59.59 during mid-day trading on Monday, reaching $1,985.17. The company had a trading volume of 374,242 shares, compared to its average volume of 369,636. The company has a market capitalization of $100.65 billion, a price-to-earnings ratio of 70.05, a PEG ratio of 1.35 and a beta of 1.61. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The stock has a 50 day simple moving average of $2,020.96 and a two-hundred day simple moving average of $1,869.98. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

Hedge Funds Weigh In On MercadoLibre

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors boosted its holdings in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares during the period. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre in the second quarter valued at approximately $36,000. Quarry LP bought a new position in MercadoLibre during the 2nd quarter worth $43,000. Finally, Legacy Bridge LLC grew its stake in shares of MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. BTIG Research decreased their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Raymond James began coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Redburn Atlantic began coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Finally, Citigroup cut their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

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.