Optimist Retirement Group LLC Trims Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Optimist Retirement Group LLC reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 12.4% during the third quarter, HoldingsChannel.com reports. The firm owned 120 shares of the company’s stock after selling 17 shares during the period. Optimist Retirement Group LLC’s holdings in MercadoLibre were worth $246,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in MercadoLibre by 4.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,582 shares of the company’s stock worth $4,243,000 after acquiring an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of MercadoLibre by 2.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,594 shares of the company’s stock valued at $4,263,000 after purchasing an additional 60 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in MercadoLibre by 0.9% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 752 shares of the company’s stock valued at $1,294,000 after acquiring an additional 7 shares during the last quarter. Swedbank AB lifted its position in MercadoLibre by 4.6% during the second quarter. Swedbank AB now owns 20,787 shares of the company’s stock valued at $34,161,000 after acquiring an additional 921 shares during the last quarter. Finally, Fiduciary Financial Group LLC purchased a new stake in MercadoLibre during the second quarter valued at approximately $356,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 0.1 %

MELI stock traded up $2.69 during trading on Thursday, reaching $1,900.56. 32,255 shares of the stock were exchanged, compared to its average volume of 368,127. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average price of $1,997.44 and a 200-day moving average price of $1,879.54. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The firm has a market capitalization of $96.35 billion, a price-to-earnings ratio of 66.97, a P/E/G ratio of 1.33 and a beta of 1.57.

Analyst Ratings Changes

A number of equities research analysts recently commented on MELI shares. Bank of America increased their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Cantor Fitzgerald reduced their target price 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. Susquehanna raised their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Raymond James initiated coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. Finally, BTIG Research dropped their price target on shares of 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. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

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.