Contravisory Investment Management Inc. Reduces Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Contravisory Investment Management Inc. trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 6.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 129 shares of the company’s stock after selling 9 shares during the period. Contravisory Investment Management Inc.’s holdings in MercadoLibre were worth $219,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Optimum Investment Advisors boosted its stake in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares during the period. Quarry LP purchased a new position in shares of MercadoLibre during the 2nd quarter worth about $43,000. Legacy Bridge LLC grew its holdings in MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after purchasing an additional 8 shares during the last quarter. GAMMA Investing LLC raised its position in MercadoLibre by 123.1% in the 4th quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock worth $49,000 after purchasing an additional 16 shares during the period. Finally, NBC Securities Inc. lifted its stake in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.1 %

NASDAQ:MELI opened at $1,837.18 on Friday. The company’s 50-day simple moving average is $1,853.04 and its 200-day simple moving average is $1,901.98. 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 stock has a market capitalization of $93.15 billion, a P/E ratio of 64.83, a P/E/G ratio of 0.92 and a beta of 1.60.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction 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 sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

MELI has been the topic of several recent analyst reports. Barclays reduced their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Raymond James began coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. Citigroup decreased their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Finally, Redburn Atlantic initiated coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,247.67.

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.