Captrust Financial Advisors Sells 15 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Captrust Financial Advisors decreased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,193 shares of the company’s stock after selling 15 shares during the quarter. Captrust Financial Advisors’ holdings in MercadoLibre were worth $4,501,000 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 the stock. Atlantic Union Bankshares Corp bought a new position in shares of MercadoLibre during the third quarter worth $224,000. Skye Global Management LP boosted its position in shares of MercadoLibre by 168.3% during the third quarter. Skye Global Management LP now owns 3,380 shares of the company’s stock worth $6,936,000 after acquiring an additional 2,120 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of MercadoLibre by 15.4% during the third quarter. Hantz Financial Services Inc. now owns 2,310 shares of the company’s stock worth $4,740,000 after acquiring an additional 308 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its position in shares of MercadoLibre by 2.1% during the third quarter. Northwest & Ethical Investments L.P. now owns 9,945 shares of the company’s stock worth $20,407,000 after acquiring an additional 201 shares during the last quarter. Finally, Vinva Investment Management Ltd boosted its position in shares of MercadoLibre by 44.2% during the third quarter. Vinva Investment Management Ltd now owns 4,136 shares of the company’s stock worth $8,540,000 after acquiring an additional 1,267 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MELI. Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Raymond James began coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective for the company. Barclays lowered their price objective on shares of 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. Redburn Atlantic began coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Finally, Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,267.67.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,929.49 on Wednesday. The company has a market capitalization of $97.83 billion, a P/E ratio of 68.08, a P/E/G ratio of 1.33 and a beta of 1.57. The company’s 50-day simple moving average is $2,014.32 and its two-hundred day simple moving average is $1,872.75. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

Insider Buying and Selling

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by insiders.

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.