Stableford Capital II LLC Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Stableford Capital II LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.7% during the 4th quarter, Holdings Channel reports. The fund owned 1,637 shares of the company’s stock after purchasing an additional 185 shares during the period. MercadoLibre makes up approximately 1.1% of Stableford Capital II LLC’s investment portfolio, making the stock its 23rd biggest position. Stableford Capital II LLC’s holdings in MercadoLibre were worth $2,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MELI. International Assets Investment Management LLC increased its stake in MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after acquiring an additional 248,181 shares during the last quarter. FMR LLC raised its holdings in MercadoLibre by 18.6% during the 3rd 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 period. Wellington Management Group LLP lifted its position in MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after buying an additional 120,922 shares during the last quarter. Swedbank AB boosted its stake in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after buying an additional 73,336 shares during the period. Finally, Jennison Associates LLC increased its position in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after acquiring an additional 70,154 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 1.3 %

MELI opened at $1,922.19 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market cap of $97.45 billion, a price-to-earnings ratio of 67.83, a PEG ratio of 1.00 and a beta of 1.60. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The stock has a fifty day moving average price of $1,839.63 and a 200-day moving average price of $1,916.38.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the company’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 sale, the director now owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

MELI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of 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. BTIG Research dropped their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Redburn Atlantic began coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target for the company. New Street Research raised MercadoLibre from a “neutral” rating to a “buy” rating and upped their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday. Finally, Barclays decreased their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $2,244.69.

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.