R Squared Ltd Takes $102,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

R Squared Ltd bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 60 shares of the company’s stock, valued at approximately $102,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in shares of MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after purchasing an additional 70,154 shares during the last quarter. FMR LLC increased its holdings in MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares during the last quarter. State Street Corp increased its holdings in MercadoLibre by 3.1% in the third quarter. State Street Corp now owns 404,584 shares of the company’s stock valued at $830,190,000 after buying an additional 12,000 shares during the last quarter. Wellington Management Group LLP raised its stake in MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after buying an additional 120,922 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after buying an additional 248,181 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $1,947.32 on Friday. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The stock has a market capitalization of $98.73 billion, a P/E ratio of 68.71, a P/E/G 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’s fifty day moving average is $1,841.64 and its two-hundred day moving average is $1,914.92.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research analyst reports. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2,000.00 to $2,300.00 in a research report on Thursday. 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 report on Tuesday, November 26th. Cantor Fitzgerald dropped 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. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research report on Tuesday, January 21st. Finally, 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 report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Buy” and an average target price of $2,244.69.

Insider Buying and Selling

In other 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 value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares of the company’s stock, 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 through 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.