IHT Wealth Management LLC Acquires 19 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

IHT Wealth Management LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 342 shares of the company’s stock after purchasing an additional 19 shares during the quarter. IHT Wealth Management LLC’s holdings in MercadoLibre were worth $702,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Jennison Associates LLC raised its position in MercadoLibre by 3.9% during the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after acquiring an additional 70,154 shares in the last quarter. FMR LLC raised its position in MercadoLibre by 18.6% during the third quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after acquiring an additional 137,564 shares in the last quarter. Legal & General Group Plc raised its position in MercadoLibre by 3.6% during the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after acquiring an additional 11,265 shares in the last quarter. Royal London Asset Management Ltd. raised its position in MercadoLibre by 17.0% during the second quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after acquiring an additional 40,361 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in MercadoLibre by 12.1% during the second quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock worth $424,745,000 after acquiring an additional 27,832 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

MercadoLibre Trading Down 1.9 %

MELI stock opened at $1,947.18 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company’s 50-day simple moving average is $2,006.79 and its 200 day simple moving average is $1,876.16. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a market capitalization of $98.72 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 1.35 and a beta of 1.57.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MELI. Raymond James began coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target on the stock. BTIG Research decreased their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Finally, Bank of America upped their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,267.67.

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.