Meyer Handelman Co. Cuts Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Meyer Handelman Co. lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 128 shares of the company’s stock after selling 12 shares during the period. Meyer Handelman Co.’s holdings in MercadoLibre were worth $218,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in MercadoLibre by 39.9% during the second quarter. Dimensional Fund Advisors LP now owns 235 shares of the company’s stock valued at $386,000 after purchasing an additional 67 shares in the last quarter. E Fund Management Co. Ltd. boosted its holdings in shares of MercadoLibre by 11.1% in the 2nd quarter. E Fund Management Co. Ltd. now owns 471 shares of the company’s stock valued at $774,000 after buying an additional 47 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of MercadoLibre in the 2nd quarter worth approximately $200,000. Mercer Global Advisors Inc. ADV raised its stake in shares of MercadoLibre by 265.5% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,046 shares of the company’s stock worth $6,649,000 after acquiring an additional 2,939 shares in the last quarter. Finally, Argent Trust Co bought a new position in shares of MercadoLibre during the 2nd quarter worth approximately $247,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MELI shares. JPMorgan Chase & Co. cut their price target 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, January 8th. Wedbush decreased their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Raymond James initiated coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. BTIG Research cut their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Citigroup lowered their target price on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Three 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 stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,247.67.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the 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 sale, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

MercadoLibre Price Performance

Shares of MELI opened at $1,838.15 on Thursday. The company has a market capitalization of $93.19 billion, a P/E ratio of 64.86, a P/E/G ratio of 1.24 and a beta of 1.60. The business’s 50-day moving average is $1,858.62 and its two-hundred day moving average is $1,902.43. 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, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

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.