Cumberland Partners Ltd Sells 200 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Cumberland Partners Ltd decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,800 shares of the company’s stock after selling 200 shares during the period. Cumberland Partners Ltd’s holdings in MercadoLibre were worth $3,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Belpointe Asset Management LLC lifted its stake in MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after purchasing an additional 6 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after acquiring an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC raised its stake in shares of MercadoLibre by 0.3% in the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after acquiring an additional 6 shares during the last quarter. Strategic Blueprint LLC raised its stake in shares of MercadoLibre by 0.9% in the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after acquiring an additional 6 shares during the last quarter. Finally, Hilltop National Bank raised its stake in shares of MercadoLibre by 14.3% in the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after acquiring an additional 7 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MELI shares. Raymond James started coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Barclays lifted their target price on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Susquehanna lifted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Cantor Fitzgerald lowered their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, Morgan Stanley lowered 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 report on Monday. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,306.33.

MercadoLibre Trading Up 0.9 %

Shares of MELI stock traded up $18.26 on Tuesday, hitting $1,979.42. The stock had a trading volume of 71,544 shares, compared to its average volume of 363,946. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The firm has a market cap of $100.35 billion, a P/E ratio of 69.20, a PEG ratio of 1.15 and a beta of 1.61. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average price of $2,044.44 and a two-hundred day moving average price of $1,832.95.

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.