Alberta Investment Management Corp Sells 2,028 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Alberta Investment Management Corp lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 38,449 shares of the company’s stock after selling 2,028 shares during the period. Alberta Investment Management Corp’s holdings in MercadoLibre were worth $65,380,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Human Investing LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. increased its position in MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the period. Brown Lisle Cummings Inc. increased its position in MercadoLibre by 100.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares during the period. Heck Capital Advisors LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $32,000. Finally, Mather Group LLC. increased its position in MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after purchasing an additional 12 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,098.75 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market cap of $106.41 billion, a price-to-earnings ratio of 74.06, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The company has a 50 day moving average price of $1,850.22 and a 200-day moving average price of $1,950.96. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

Analysts Set New Price Targets

A number of research analysts have commented on MELI shares. JPMorgan Chase & Co. cut their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. BTIG Research lowered their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Barclays lowered 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 report on Tuesday, November 12th. Finally, Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $2,244.69.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’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 completion of the transaction, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

About MercadoLibre

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.