Annex Advisory Services LLC Increases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Annex Advisory Services LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 21.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,087 shares of the company’s stock after acquiring an additional 2,292 shares during the quarter. Annex Advisory Services LLC’s holdings in MercadoLibre were worth $22,254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in MercadoLibre in the third quarter valued at $114,417,000. Principal Financial Group Inc. boosted its stake in shares of MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares in the last quarter. KBC Group NV increased its position in shares of MercadoLibre by 205.5% during the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after buying an additional 17,677 shares during the period. Nordea Investment Management AB raised its stake in MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after buying an additional 43,215 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its holdings in MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after buying an additional 780 shares during the period. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MELI shares. Morgan Stanley decreased 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. Raymond James started coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective for the company. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Citigroup lowered their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, Redburn Atlantic initiated coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,247.67.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction 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 sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

MercadoLibre Trading Down 0.1 %

MercadoLibre stock opened at $1,836.00 on Monday. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The business’s fifty day moving average is $1,853.58 and its 200 day moving average is $1,905.33. The stock has a market capitalization of $93.08 billion, a PE ratio of 64.78, a price-to-earnings-growth ratio of 0.92 and a beta of 1.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

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.