Hardy Reed LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Hardy Reed LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 125 shares of the company’s stock, valued at approximately $213,000.

A number of other large investors also recently modified their holdings of the company. Handelsbanken Fonder AB lifted its stake in shares of MercadoLibre by 0.7% in the 4th quarter. Handelsbanken Fonder AB now owns 22,349 shares of the company’s stock valued at $38,003,000 after acquiring an additional 158 shares during the last quarter. Sunpointe LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at $277,000. Cumberland Partners Ltd raised its position in MercadoLibre by 27.8% during the 4th quarter. Cumberland Partners Ltd now owns 2,300 shares of the company’s stock worth $3,911,000 after purchasing an additional 500 shares during the last quarter. TBH Global Asset Management LLC raised its position in MercadoLibre by 3.1% during the 4th quarter. TBH Global Asset Management LLC now owns 268 shares of the company’s stock worth $455,000 after purchasing an additional 8 shares during the last quarter. Finally, Laidlaw Wealth Management LLC bought a new position in MercadoLibre during the 4th quarter worth $275,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MELI opened at $2,075.79 on Thursday. 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 $1,853.78 and a 200-day moving average of $1,951.83. The company has a market cap of $105.24 billion, a PE ratio of 73.25, a P/E/G ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MELI. Morgan Stanley lowered their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Cantor Fitzgerald lowered their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Wedbush lowered their target price 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. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, BTIG Research lowered their target price on 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. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $2,244.69.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, 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. 0.06% of the stock is currently owned by company insiders.

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.