Matthews International Capital Management LLC Lowers Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Matthews International Capital Management LLC reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 56.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 369 shares of the company’s stock after selling 474 shares during the quarter. Matthews International Capital Management LLC’s holdings in MercadoLibre were worth $627,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Optimum Investment Advisors boosted its stake in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Grove Bank & Trust lifted its holdings in MercadoLibre by 120.0% during the fourth quarter. Grove Bank & Trust now owns 22 shares of the company’s stock worth $37,000 after buying an additional 12 shares during the period. Quarry LP bought a new stake in MercadoLibre during the 2nd quarter valued at $43,000. Legacy Bridge LLC increased its holdings in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of MercadoLibre by 123.1% in the 4th quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock worth $49,000 after acquiring an additional 16 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Up 0.1 %

Shares of MercadoLibre stock opened at $1,846.00 on Tuesday. The stock has a market cap 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 firm has a fifty day moving average price of $1,844.29 and a 200 day moving average price of $1,913.18. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’s 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 value of $99,249.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MELI shares. BTIG Research dropped their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Redburn Atlantic began coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target on the stock. Citigroup reduced their price objective 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. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Wedbush cut their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,241.00.

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.