Vestcor Inc Acquires 433 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Vestcor Inc increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 26.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,045 shares of the company’s stock after purchasing an additional 433 shares during the quarter. Vestcor Inc’s holdings in MercadoLibre were worth $4,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Planning Capital Management Corp lifted its holdings in shares of MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares in the last quarter. Mount Lucas Management LP increased its position in MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after acquiring an additional 5 shares during the last quarter. Belpointe Asset Management LLC increased its position in MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after acquiring an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in MercadoLibre by 0.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after acquiring an additional 6 shares during the last quarter. Finally, Evolutionary Tree Capital Management LLC increased its position in MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after acquiring an additional 6 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction that occurred 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 represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. BTIG Research reduced their price objective 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. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Finally, Bank of America upped their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,879.18 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The stock has a 50-day moving average price of $2,002.64 and a 200 day moving average price of $1,878.11. The stock has a market capitalization of $95.27 billion, a P/E ratio of 66.31, a P/E/G ratio of 1.33 and a beta of 1.57.

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.