Wealth Alliance Sells 19 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Wealth Alliance lowered its position in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 249 shares of the company’s stock after selling 19 shares during the period. Wealth Alliance’s holdings in MercadoLibre were worth $316,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MELI. WCM Investment Management LLC raised its position in shares of MercadoLibre by 6,564.6% during the 3rd quarter. WCM Investment Management LLC now owns 665,189 shares of the company’s stock valued at $842,508,000 after buying an additional 655,208 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of MercadoLibre by 879.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 222,601 shares of the company’s stock valued at $282,231,000 after buying an additional 199,875 shares in the last quarter. Perpetual Ltd raised its position in shares of MercadoLibre by 3,796.9% during the 3rd quarter. Perpetual Ltd now owns 200,883 shares of the company’s stock valued at $254,696,000 after buying an additional 195,728 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 30.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 474,855 shares of the company’s stock valued at $401,841,000 after buying an additional 111,751 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of MercadoLibre during the 4th quarter valued at about $77,909,000. Hedge funds and other institutional investors own 80.01% of the company’s stock.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,742.26 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.24 and a current ratio of 1.27. The firm’s 50 day moving average price is $1,643.29 and its 200-day moving average price is $1,438.15. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,800.09. The company has a market cap of $88.09 billion, a PE ratio of 89.16, a P/E/G ratio of 1.17 and a beta of 1.52.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Citigroup upped their price target on shares of MercadoLibre from $1,550.00 to $1,900.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Bank of America upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and set a $2,000.00 price target on the stock in a report on Monday, November 27th. StockNews.com upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating in a report on Friday. Susquehanna upped their price target on shares of MercadoLibre from $1,625.00 to $1,850.00 and gave the company a “positive” rating in a report on Tuesday, November 28th. Finally, Wedbush upped their price target on shares of MercadoLibre from $1,700.00 to $1,800.00 and gave the company an “outperform” rating in a report on Wednesday, December 27th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $1,752.50.

Check Out Our Latest Research Report on MELI

MercadoLibre Profile

(Free Report)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

Recommended Stories

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELIFree Report).

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

Receive News & Ratings for MercadoLibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MercadoLibre and related companies with MarketBeat.com's FREE daily email newsletter.