Leo Wealth LLC boosted its position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 53.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 623 shares of the company’s stock after acquiring an additional 217 shares during the quarter. Leo Wealth LLC’s holdings in MercadoLibre were worth $1,060,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in MELI. Pacific Capital Wealth Advisors Inc. raised its holdings in shares of MercadoLibre by 220.0% during the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. grew its position in MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in MercadoLibre during the fourth quarter worth about $32,000. Mather Group LLC. lifted its holdings in shares of MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after acquiring an additional 12 shares during the last quarter. Finally, Optimum Investment Advisors boosted its stake in shares of 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 purchasing an additional 15 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at MercadoLibre
In other 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 value of $99,249.00. Following the completion of the sale, the director now owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.06% of the company’s stock.
MercadoLibre Price Performance
Analyst Upgrades and Downgrades
MELI has been the subject of a number of research analyst reports. Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Citigroup dropped their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Barclays reduced their price objective on 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. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Finally, Wedbush reduced their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Buy” and a consensus price target of $2,244.69.
Check Out Our Latest Research Report on MercadoLibre
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.
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