Seneca House Advisors Buys Shares of 239 MercadoLibre, Inc. (NASDAQ:MELI)

Seneca House Advisors purchased a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 239 shares of the company’s stock, valued at approximately $406,000.

A number of other hedge funds have also recently bought and sold shares of MELI. Public Employees Retirement System of Ohio bought a new stake in shares of MercadoLibre in the third quarter valued at about $114,417,000. Principal Financial Group Inc. grew its holdings in shares of MercadoLibre by 20.9% during the 3rd 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. KBC Group NV grew its holdings in shares of MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of 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 purchasing an additional 43,215 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after purchasing an additional 780 shares during the period. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on MELI. Wedbush reduced their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Citigroup decreased their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Barclays dropped their target price 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. JPMorgan Chase & Co. lowered their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Redburn Atlantic began 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, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,241.00.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s 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 owns 238 shares in the company, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Stock Up 0.6 %

Shares of MercadoLibre stock opened at $1,828.73 on Friday. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The business has a fifty day simple moving average of $1,845.97 and a 200 day simple moving average of $1,909.86. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The stock has a market cap of $92.72 billion, a PE ratio of 64.53, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60.

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.