Marks Group Wealth Management Inc Has $473,000 Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Marks Group Wealth Management Inc lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 15.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 278 shares of the company’s stock after selling 49 shares during the period. Marks Group Wealth Management Inc’s holdings in MercadoLibre were worth $473,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MELI. Pacific Capital Wealth Advisors Inc. boosted 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 worth $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. raised its stake in shares of MercadoLibre by 100.0% in the 4th 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 bought a new position in shares of MercadoLibre during the 4th quarter worth about $32,000. Mather Group LLC. boosted its position in shares of 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 acquiring an additional 12 shares in the last quarter. Finally, Optimum Investment Advisors increased its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares during the period. Institutional investors own 87.62% of the company’s stock.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares of the company’s stock, 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 SEC, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

MercadoLibre Price Performance

MELI opened at $2,016.73 on Thursday. 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 stock has a market capitalization of $102.25 billion, a P/E ratio of 71.16, a price-to-earnings-growth ratio of 1.06 and a beta of 1.62. The company’s 50 day simple moving average is $1,835.05 and its 200-day simple moving average is $1,936.15. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73.

Analyst Ratings Changes

A number of research analysts have commented on MELI shares. Morgan Stanley cut their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research report on Tuesday, January 21st. BTIG Research lowered their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Barclays cut their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, Wedbush lowered their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Two investment 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, the company currently 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.