Koshinski Asset Management Inc. Reduces Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Koshinski Asset Management Inc. trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.8% in the fourth quarter, HoldingsChannel reports. The firm owned 448 shares of the company’s stock after selling 8 shares during the period. Koshinski Asset Management Inc.’s holdings in MercadoLibre were worth $762,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Planning Capital Management Corp increased its stake in shares of MercadoLibre by 9.1% during the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares in the last quarter. Mount Lucas Management LP boosted its position in MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after acquiring an additional 5 shares during the last quarter. Strategic Blueprint LLC boosted its position in MercadoLibre by 0.9% during the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after acquiring an additional 6 shares during the last quarter. NBC Securities Inc. boosted its position in MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after acquiring an additional 7 shares during the last quarter. Finally, 1620 Investment Advisors Inc. boosted its position in MercadoLibre by 3.7% during the third quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company’s stock worth $407,000 after acquiring an additional 7 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction on 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 sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MELI shares. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Redburn Atlantic started coverage on shares of MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Barclays decreased their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Citigroup decreased their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. decreased 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. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,241.00.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,818.49 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $92.20 billion, a price-to-earnings ratio of 64.17, a PEG ratio of 0.98 and a beta of 1.60. The firm’s fifty day simple moving average is $1,848.22 and its 200 day simple moving average is $1,910.50. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73.

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.