Latitude Advisors LLC Increases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Latitude Advisors LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 118 shares of the company’s stock after purchasing an additional 13 shares during the quarter. Latitude Advisors LLC’s holdings in MercadoLibre were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. International Assets Investment Management LLC increased its position in MercadoLibre by 205,108.3% in the third 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 in the last quarter. Strategic Financial Concepts LLC grew its stake in shares of MercadoLibre by 169,952.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after acquiring an additional 181,849 shares during the period. FMR LLC increased its holdings in MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after acquiring an additional 137,564 shares in the last quarter. Wellington Management Group LLP raised its stake in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after acquiring an additional 120,922 shares during the period. Finally, Swedbank AB lifted its holdings in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after purchasing an additional 73,336 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MELI shares. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley decreased their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Wedbush dropped their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, BTIG Research decreased their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note 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 issued a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Buy” and a consensus target price of $2,244.69.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre 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 transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Price Performance

MELI stock opened at $2,035.18 on Wednesday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The firm has a market capitalization of $103.18 billion, a P/E ratio of 71.81, a price-to-earnings-growth ratio of 1.06 and a beta of 1.62. The company has a fifty day simple moving average of $1,832.93 and a two-hundred day simple moving average of $1,933.45. 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 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.