Sanctuary Advisors LLC Lowers Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Sanctuary Advisors LLC reduced its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 17.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,519 shares of the company’s stock after selling 328 shares during the quarter. Sanctuary Advisors LLC’s holdings in MercadoLibre were worth $2,583,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in shares of MercadoLibre by 43.8% in the 4th quarter. Principal Financial Group Inc. now owns 85,443 shares of the company’s stock valued at $145,291,000 after purchasing an additional 26,013 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its holdings in shares of MercadoLibre by 1.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 31,844 shares of the company’s stock valued at $54,149,000 after buying an additional 461 shares during the period. Americana Partners LLC lifted its holdings in shares of MercadoLibre by 41.0% in the 4th quarter. Americana Partners LLC now owns 1,371 shares of the company’s stock valued at $2,331,000 after buying an additional 399 shares during the period. J.W. Cole Advisors Inc. lifted its holdings in shares of MercadoLibre by 1.7% in the 4th quarter. J.W. Cole Advisors Inc. now owns 1,382 shares of the company’s stock valued at $2,350,000 after buying an additional 23 shares during the period. Finally, Csenge Advisory Group lifted its holdings in shares of MercadoLibre by 2.7% in the 4th quarter. Csenge Advisory Group now owns 1,160 shares of the company’s stock valued at $1,972,000 after buying an additional 30 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on MELI shares. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Wedbush reduced their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Morgan Stanley reduced their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. BTIG Research reduced their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Susquehanna raised their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Buy” and an average price target of $2,364.06.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction on Friday, November 29th. The stock was 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 in the company, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.

MercadoLibre Stock Up 7.1 %

Shares of NASDAQ:MELI opened at $2,260.00 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The stock’s fifty day simple moving average is $1,867.29 and its 200-day simple moving average is $1,957.32. The company has a market capitalization of $114.58 billion, a P/E ratio of 59.95, a P/E/G ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.