Pacer Advisors Inc. Raises Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Pacer Advisors Inc. lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.9% in the fourth quarter, HoldingsChannel reports. The firm owned 2,578 shares of the company’s stock after purchasing an additional 96 shares during the quarter. Pacer Advisors Inc.’s holdings in MercadoLibre were worth $4,384,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio bought a new stake in shares of MercadoLibre in the 3rd quarter worth about $114,417,000. Principal Financial Group Inc. grew its position in MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after acquiring an additional 10,272 shares in the last quarter. KBC Group NV increased its stake in MercadoLibre by 205.5% during the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after acquiring an additional 17,677 shares during the last quarter. Nordea Investment Management AB raised its position in MercadoLibre by 37.8% during 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 during the period. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after purchasing an additional 780 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. New Street Research raised shares of 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 note on Thursday. Barclays dropped their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Citigroup reduced their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Finally, Redburn Atlantic began coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price for the company. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $2,244.69.

MercadoLibre Price Performance

MELI opened at $1,947.32 on Friday. The company has a market capitalization of $98.73 billion, a price-to-earnings ratio of 68.71, a PEG ratio of 0.96 and a beta of 1.60. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The business’s fifty day simple moving average is $1,841.64 and its 200-day simple moving average is $1,914.92.

Insider Buying and Selling

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated 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 approximately $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by 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.