MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,586 shares of the company’s stock after buying an additional 886 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in MercadoLibre were worth $23,102,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MELI. Human Investing LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. raised its stake in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. raised its stake in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter worth approximately $32,000. Finally, Mather Group LLC. increased its holdings in shares of MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after acquiring an additional 12 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $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 is available through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on MELI. Wedbush reduced their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Barclays reduced their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Cantor Fitzgerald lowered 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 research report on Thursday, November 7th. New Street Research raised shares of 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 report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lowered their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $2,244.69.

MercadoLibre Stock Performance

MELI opened at $2,109.99 on Tuesday. The business has a fifty day simple moving average of $1,840.51 and a 200-day simple moving average of $1,945.14. The firm has a market cap of $106.98 billion, a PE ratio of 74.45, a P/E/G ratio of 1.06 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 fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73.

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.