Ieq Capital LLC Sells 378 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Ieq Capital LLC decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 16.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,878 shares of the company’s stock after selling 378 shares during the quarter. Ieq Capital LLC’s holdings in MercadoLibre were worth $3,193,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MELI. TBH Global Asset Management LLC grew its position in shares of MercadoLibre by 3.1% in the 4th quarter. TBH Global Asset Management LLC now owns 268 shares of the company’s stock worth $455,000 after buying an additional 8 shares during the period. Laidlaw Wealth Management LLC bought a new stake in MercadoLibre during the fourth quarter worth about $275,000. Chapman Investment Management LLC grew its holdings in MercadoLibre by 1.0% in the fourth quarter. Chapman Investment Management LLC now owns 4,157 shares of the company’s stock worth $7,069,000 after purchasing an additional 41 shares during the period. Timber Creek Capital Management LLC increased its stake in shares of MercadoLibre by 17.1% during the fourth quarter. Timber Creek Capital Management LLC now owns 3,322 shares of the company’s stock valued at $5,649,000 after purchasing an additional 484 shares in the last quarter. Finally, Bank of Jackson Hole Trust purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $230,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 7.1 %

NASDAQ:MELI opened at $2,260.00 on Friday. The company has a 50 day simple moving average of $1,867.29 and a two-hundred day simple moving average of $1,957.32. The company has a market cap of $114.58 billion, a PE ratio of 59.95, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. Research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Insider Buying and Selling at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’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 transaction, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on MELI shares. Cantor Fitzgerald upped their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley cut their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, November 11th. BTIG Research lowered their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price target on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $2,364.06.

MercadoLibre Company 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.