Triasima Portfolio Management inc. Takes $4.88 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Triasima Portfolio Management inc. purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, HoldingsChannel reports. The fund purchased 2,870 shares of the company’s stock, valued at approximately $4,880,000. MercadoLibre accounts for 0.9% of Triasima Portfolio Management inc.’s holdings, making the stock its 29th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacific Capital Wealth Advisors Inc. raised its position in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 11 shares during the period. Brown Lisle Cummings Inc. raised its position in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after purchasing an additional 8 shares during the period. Optimum Investment Advisors raised its position in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $32,000. Finally, Mather Group LLC. raised its position in shares of MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after purchasing an additional 12 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research reports. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their price target for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Cantor Fitzgerald decreased their target price 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. Wedbush decreased their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $2,244.69.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,012.80 on Friday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The stock has a market capitalization of $102.05 billion, a price-to-earnings ratio of 71.02, a price-to-earnings-growth ratio of 1.02 and a beta of 1.62. The company has a fifty day moving average of $1,830.91 and a 200-day moving average of $1,924.71. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by corporate 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.