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

Sugarloaf Wealth Management LLC lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1,900.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 60 shares of the company’s stock after purchasing an additional 57 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in MercadoLibre were worth $102,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Planning Capital Management Corp boosted its stake 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 buying an additional 5 shares in the last quarter. Mount Lucas Management LP boosted its stake in shares of MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after purchasing an additional 5 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC raised its position in MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after purchasing an additional 6 shares during the period. Finally, Strategic Blueprint LLC lifted its stake 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 purchasing an additional 6 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction dated 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 legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of recent research reports. Morgan Stanley reduced their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. Barclays decreased their price target 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 dropped their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Citigroup decreased their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, BTIG Research dropped their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,247.67.

MercadoLibre Stock Up 1.1 %

MELI stock opened at $1,758.77 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a market capitalization of $89.16 billion, a price-to-earnings ratio of 62.06, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60. The business’s 50 day moving average price is $1,871.83 and its two-hundred day moving average price is $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.

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.