First Heartland Consultants Inc. Sells 63 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

First Heartland Consultants Inc. trimmed its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 435 shares of the company’s stock after selling 63 shares during the quarter. First Heartland Consultants Inc.’s holdings in MercadoLibre were worth $893,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MELI. GQG Partners LLC raised its stake in MercadoLibre by 442.2% in the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after buying an additional 648,198 shares in the last quarter. International Assets Investment Management LLC raised its stake in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after buying an additional 248,181 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in MercadoLibre in the second quarter worth about $2,913,000. Finally, Janus Henderson Group PLC raised its stake in MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

MELI stock traded up $4.40 on Tuesday, hitting $1,965.56. The company had a trading volume of 142,635 shares, compared to its average volume of 364,181. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. 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 stock’s 50-day simple moving average is $2,044.44 and its 200 day simple moving average is $1,832.95. The stock has a market cap of $99.65 billion, a price-to-earnings ratio of 69.40, a P/E/G ratio of 1.15 and a beta of 1.61.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MELI shares. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target for the company. in a research note on Wednesday, October 2nd. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. BTIG Research cut their price objective 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. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Finally, Redburn Atlantic assumed coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,286.33.

MercadoLibre Profile

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.