Alliance Wealth Advisors LLC UT Purchases 15 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Alliance Wealth Advisors LLC UT lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 258 shares of the company’s stock after purchasing an additional 15 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in MercadoLibre were worth $439,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Pacific Capital Wealth Advisors Inc. lifted its holdings in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Optimum Investment Advisors boosted its holdings in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Heck Capital Advisors LLC acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $32,000. Grove Bank & Trust increased its holdings 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 purchasing an additional 12 shares during the period. Finally, Legacy Bridge LLC increased its holdings in shares of MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MELI. Cantor Fitzgerald reduced their price target on 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. Citigroup decreased their price target on 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. Barclays cut their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Wedbush decreased their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. Finally, New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price target for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $2,244.69.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’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 value of $99,249.00. Following the completion of the transaction, the director now directly 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 legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by company insiders.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,966.41 on Wednesday. The stock has a 50-day moving average price of $1,835.81 and a two-hundred day moving average price of $1,921.51. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a market capitalization of $99.70 billion, a PE ratio of 69.39, a P/E/G ratio of 1.02 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

About MercadoLibre

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.