500 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Acquired by United Asset Strategies Inc.

United Asset Strategies Inc. acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 500 shares of the company’s stock, valued at approximately $850,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MELI. Dimensional Fund Advisors LP lifted its stake in shares of MercadoLibre by 39.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 235 shares of the company’s stock worth $386,000 after buying an additional 67 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in MercadoLibre by 26.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock worth $47,978,000 after acquiring an additional 6,153 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of MercadoLibre by 3.0% during the second quarter. Mackenzie Financial Corp now owns 1,727 shares of the company’s stock worth $2,838,000 after acquiring an additional 51 shares during the period. Algert Global LLC grew its position in shares of MercadoLibre by 30.0% in the second quarter. Algert Global LLC now owns 390 shares of the company’s stock valued at $641,000 after purchasing an additional 90 shares during the last quarter. Finally, Creative Planning increased its stake in shares of MercadoLibre by 44.6% during the second quarter. Creative Planning now owns 6,027 shares of the company’s stock worth $9,904,000 after purchasing an additional 1,859 shares during the period. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MELI. Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. JPMorgan Chase & Co. lowered 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 research report on Wednesday, January 8th. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Morgan Stanley lowered their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Barclays cut their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,241.00.

MercadoLibre Stock Up 0.1 %

Shares of NASDAQ:MELI opened at $1,846.00 on Tuesday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a market capitalization of $93.59 billion, a PE ratio of 65.14, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a fifty day moving average of $1,844.29 and a 200-day moving average of $1,913.18.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred 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 in the company, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

MercadoLibre Company 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.