Clay Northam Wealth Management LLC Acquires 100 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Clay Northam Wealth Management LLC boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 74.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 234 shares of the company’s stock after acquiring an additional 100 shares during the quarter. Clay Northam Wealth Management LLC’s holdings in MercadoLibre were worth $398,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MELI. Public Employees Retirement System of Ohio purchased a new position in shares of MercadoLibre in the 3rd quarter worth about $114,417,000. Principal Financial Group Inc. boosted its holdings in shares of MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after purchasing an additional 10,272 shares in the last quarter. KBC Group NV boosted its holdings in shares of MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after purchasing an additional 43,215 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after purchasing an additional 780 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 0.7 %

MELI opened at $1,908.90 on Tuesday. The business has a 50 day simple moving average of $1,839.63 and a two-hundred day simple moving average of $1,919.50. The firm has a market capitalization of $96.78 billion, a price-to-earnings ratio of 67.36, a PEG ratio of 1.02 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73.

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 stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Citigroup cut their price objective 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. Redburn Atlantic started coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a report on Tuesday, January 21st. Finally, 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. Two 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. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Buy” and an average price target of $2,244.69.

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.