TBH Global Asset Management LLC Raises Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

TBH Global Asset Management LLC grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 268 shares of the company’s stock after acquiring an additional 8 shares during the quarter. TBH Global Asset Management LLC’s holdings in MercadoLibre were worth $455,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MELI. Swedbank AB increased its holdings in MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after acquiring an additional 73,336 shares in the last quarter. Whittier Trust Co. grew its position in shares of MercadoLibre by 4.2% in the third quarter. Whittier Trust Co. now owns 1,303 shares of the company’s stock valued at $2,674,000 after purchasing an additional 53 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of MercadoLibre by 42.7% during the third quarter. Sequoia Financial Advisors LLC now owns 1,491 shares of the company’s stock worth $3,060,000 after purchasing an additional 446 shares in the last quarter. Signaturefd LLC raised its position in shares of MercadoLibre by 7.0% during the 3rd quarter. Signaturefd LLC now owns 260 shares of the company’s stock worth $534,000 after purchasing an additional 17 shares during the last quarter. Finally, BLB&B Advisors LLC purchased a new position in MercadoLibre in the 3rd quarter valued at about $222,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MELI stock opened at $2,075.79 on Thursday. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market cap of $105.24 billion, a price-to-earnings ratio of 73.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62. The business has a fifty day moving average of $1,853.78 and a two-hundred day moving average of $1,951.83.

Insider Buying and Selling

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now owns 238 shares of the company’s stock, valued at $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 available through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Cantor Fitzgerald cut their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Morgan Stanley lowered their target price on shares of 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. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $2,244.69.

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.