Fiduciary Financial Group LLC Increases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Fiduciary Financial Group LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 247 shares of the company’s stock after purchasing an additional 37 shares during the quarter. Fiduciary Financial Group LLC’s holdings in MercadoLibre were worth $434,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Planning Capital Management Corp increased its holdings in MercadoLibre by 9.1% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares during the last quarter. Mount Lucas Management LP increased its holdings in MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after acquiring an additional 5 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in MercadoLibre by 0.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after acquiring an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC increased its holdings in MercadoLibre by 0.3% in the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after acquiring an additional 6 shares during the last quarter. Finally, Strategic Blueprint LLC increased its holdings in MercadoLibre by 0.9% in the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after acquiring an additional 6 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the subject of several recent research reports. Wedbush decreased their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald cut their target price on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. BTIG Research cut their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Raymond James assumed coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Finally, JPMorgan Chase & Co. cut their target price on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,247.67.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was 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 $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,753.61 on Wednesday. The business has a 50 day moving average of $1,858.62 and a 200 day moving average of $1,902.43. The company has a market capitalization of $88.90 billion, a price-to-earnings ratio of 61.88, a PEG ratio of 1.24 and a beta of 1.60. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. 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 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.