Reynders McVeigh Capital Management LLC Sells 10 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Reynders McVeigh Capital Management LLC lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 727 shares of the company’s stock after selling 10 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in MercadoLibre were worth $1,492,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors lifted its position in shares of MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the last quarter. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre during the 2nd quarter worth about $36,000. Quarry LP acquired a new position in shares of MercadoLibre during the 2nd quarter worth about $43,000. Finally, Legacy Bridge LLC raised its holdings in MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MELI. Susquehanna upped their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. The Goldman Sachs Group increased their target price on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald dropped their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Citigroup dropped their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Stock Down 1.2 %

MercadoLibre stock opened at $1,929.49 on Wednesday. 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 company has a market capitalization of $97.83 billion, a P/E ratio of 68.08, a P/E/G ratio of 1.33 and a beta of 1.57. The firm has a 50 day moving average price of $2,014.32 and a 200-day moving average price of $1,872.75. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction dated 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 owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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.