MercadoLibre, Inc. (NASDAQ:MELI) is Northcape Capital Pty Ltd’s 3rd Largest Position

Northcape Capital Pty Ltd lessened its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 10.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,262 shares of the company’s stock after selling 8,461 shares during the period. MercadoLibre accounts for approximately 20.7% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 3rd largest holding. Northcape Capital Pty Ltd’s holdings in MercadoLibre were worth $129,679,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Range Financial Group LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at about $296,000. CWA Asset Management Group LLC purchased a new stake in MercadoLibre during the fourth quarter valued at approximately $4,623,000. Nordea Investment Management AB boosted its stake in MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after acquiring an additional 43,215 shares in the last quarter. GAMMA Investing LLC grew its holdings in MercadoLibre by 123.1% in the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock worth $49,000 after purchasing an additional 16 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of MercadoLibre by 20.9% during the third 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. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. BTIG Research cut their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Raymond James began coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. Redburn Atlantic assumed coverage on MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective on the stock. Barclays dropped their target price 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. Finally, Morgan Stanley cut their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $2,261.00.

MercadoLibre Trading Down 1.6 %

Shares of MercadoLibre stock opened at $1,771.22 on Wednesday. The firm has a 50-day simple moving average of $1,889.35 and a two-hundred day simple moving average of $1,898.75. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a market cap of $89.80 billion, a P/E ratio of 62.50, a price-to-earnings-growth ratio of 1.24 and a beta of 1.60.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s 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 of the company’s stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by company 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.