R Squared Ltd Acquires New Position in MercadoLibre, Inc. (NASDAQ:MELI)

R Squared Ltd bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 60 shares of the company’s stock, valued at approximately $102,000.

Other institutional investors also recently bought and sold shares of the company. Pacific Capital Wealth Advisors Inc. grew 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. Optimum Investment Advisors grew its holdings in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares during the period. Grove Bank & Trust increased its stake in shares of MercadoLibre by 120.0% during the 4th quarter. Grove Bank & Trust now owns 22 shares of the company’s stock valued at $37,000 after acquiring an additional 12 shares during the last quarter. Quarry LP purchased a new position in shares of MercadoLibre during the 2nd quarter worth about $43,000. Finally, Legacy Bridge LLC boosted its position in shares of MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after acquiring an additional 8 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Up 3.0 %

Shares of MELI opened at $1,947.32 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The stock has a 50-day moving average price of $1,841.64 and a 200 day moving average price of $1,914.92. The company has a market capitalization of $98.73 billion, a P/E ratio of 68.71, a P/E/G ratio of 0.96 and a beta of 1.60.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2,000.00 to $2,300.00 in a research note on Thursday. Barclays lowered their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a report on Tuesday, January 21st. Redburn Atlantic assumed coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price for the company. Finally, JPMorgan Chase & Co. cut 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 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $2,244.69.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated 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 owns 238 shares in the company, 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 SEC, which can be accessed through this hyperlink. Company 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.