Sanctuary Advisors LLC Lowers Position in MercadoLibre, Inc. (NASDAQ:MELI)

Sanctuary Advisors LLC cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,519 shares of the company’s stock after selling 328 shares during the quarter. Sanctuary Advisors LLC’s holdings in MercadoLibre were worth $2,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MELI. Swedbank AB lifted its stake in MercadoLibre by 352.8% during the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares in the last quarter. Signaturefd LLC lifted its stake in MercadoLibre by 7.0% during the 3rd quarter. Signaturefd LLC now owns 260 shares of the company’s stock worth $534,000 after acquiring an additional 17 shares in the last quarter. Greenleaf Trust acquired a new position in MercadoLibre during the 3rd quarter worth about $271,000. Dakota Wealth Management lifted its stake in MercadoLibre by 156.8% during the 3rd quarter. Dakota Wealth Management now owns 2,545 shares of the company’s stock worth $5,222,000 after acquiring an additional 1,554 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its stake in MercadoLibre by 30.4% during the 3rd quarter. Tectonic Advisors LLC now owns 163 shares of the company’s stock worth $334,000 after acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’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 transaction of $99,249.00. Following the transaction, the director now 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 SEC, which is available through the SEC website. 0.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MELI. Barclays increased their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley reduced their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Citigroup reduced their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Cantor Fitzgerald increased their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Buy” and an average target price of $2,364.06.

MercadoLibre Trading Up 7.1 %

NASDAQ:MELI opened at $2,260.00 on Friday. The stock’s 50 day moving average price is $1,867.29 and its 200 day moving average price is $1,957.32. The company has a market capitalization of $114.58 billion, a PE ratio of 59.95, a P/E/G ratio of 1.12 and a beta of 1.62. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

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.