Laidlaw Wealth Management LLC Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Laidlaw Wealth Management LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, Holdings Channel.com reports. The firm bought 162 shares of the company’s stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MELI. International Assets Investment Management LLC grew its holdings in shares of MercadoLibre by 205,108.3% during the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after acquiring an additional 248,181 shares during the period. Strategic Financial Concepts LLC grew its holdings in shares of MercadoLibre by 169,952.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock worth $309,405,000 after acquiring an additional 181,849 shares during the period. FMR LLC grew its stake in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after buying an additional 137,564 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after buying an additional 120,922 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after buying an additional 73,336 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by insiders.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,098.75 on Wednesday. The business’s fifty day moving average price is $1,850.22 and its 200-day moving average price is $1,950.96. The stock has a market capitalization of $106.41 billion, a price-to-earnings ratio of 74.06, a PEG ratio of 1.12 and a beta of 1.62. 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, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

Analysts Set New Price Targets

Several research firms recently weighed in on MELI. New Street Research upgraded 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 research note on Thursday, January 30th. Wedbush cut their price target on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research note on Monday, January 6th. Barclays cut their price target on 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. Cantor Fitzgerald cut their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Citigroup cut their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $2,244.69.

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.