TBH Global Asset Management LLC Raises Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

TBH Global Asset Management LLC increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 268 shares of the company’s stock after buying an additional 8 shares during the period. TBH Global Asset Management LLC’s holdings in MercadoLibre were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Laidlaw Wealth Management LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth $275,000. Chapman Investment Management LLC lifted its position in shares of MercadoLibre by 1.0% during the fourth quarter. Chapman Investment Management LLC now owns 4,157 shares of the company’s stock valued at $7,069,000 after buying an additional 41 shares during the last quarter. Timber Creek Capital Management LLC lifted its position in shares of MercadoLibre by 17.1% during the fourth quarter. Timber Creek Capital Management LLC now owns 3,322 shares of the company’s stock valued at $5,649,000 after buying an additional 484 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of MercadoLibre in the 4th quarter valued at about $230,000. Finally, New York State Common Retirement Fund grew its position in shares of MercadoLibre by 20.6% in the 4th quarter. New York State Common Retirement Fund now owns 34,217 shares of the company’s stock worth $58,184,000 after buying an additional 5,843 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MELI. Wedbush lowered their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Morgan Stanley lowered their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Cantor Fitzgerald reduced their target price on 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. 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 report on Tuesday, November 12th. Finally, Raymond James upgraded shares of 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $2,244.69.

MercadoLibre Trading Down 1.1 %

NASDAQ MELI opened at $2,075.79 on Thursday. The company has a fifty day moving average of $1,853.78 and a 200 day moving average of $1,951.83. The company has a market capitalization of $105.24 billion, a PE ratio of 73.25, a P/E/G ratio of 1.12 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 1 year low of $1,324.99 and a 1 year high of $2,161.73.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred 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 completion of the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

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.