New Century Financial Group LLC Acquires Shares of 121 MercadoLibre, Inc. (NASDAQ:MELI)

New Century Financial Group LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 121 shares of the company’s stock, valued at approximately $222,000.

A number of other large investors have also recently made changes to their positions in the stock. Optimum Investment Advisors lifted its holdings in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after buying an additional 15 shares in the last quarter. Grove Bank & Trust increased its position in shares of MercadoLibre by 120.0% during the fourth quarter. Grove Bank & Trust now owns 22 shares of the company’s stock worth $37,000 after acquiring an additional 12 shares during the period. Quarry LP bought a new stake in shares of MercadoLibre during the second quarter valued at approximately $43,000. Legacy Bridge LLC boosted its holdings in shares of MercadoLibre by 53.3% in the third 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 period. Finally, GAMMA Investing LLC grew its stake 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 in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MercadoLibre

In other 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 transaction of $99,249.00. Following the sale, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

MercadoLibre Trading Up 0.8 %

Shares of NASDAQ:MELI opened at $1,843.45 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market capitalization of $93.46 billion, a P/E ratio of 65.05, a P/E/G ratio of 0.96 and a beta of 1.60. The business’s 50-day moving average is $1,845.02 and its 200 day moving average is $1,909.29. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73.

Analysts Set New Price Targets

A number of brokerages have weighed in on MELI. Citigroup decreased their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Wedbush lowered 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 research note on Monday, January 6th. Cantor Fitzgerald cut their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Finally, Barclays dropped their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Three 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 stock. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,241.00.

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.