Adalta Capital Management LLC Acquires 92 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Adalta Capital Management LLC lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 5.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,701 shares of the company’s stock after buying an additional 92 shares during the quarter. MercadoLibre accounts for approximately 1.8% of Adalta Capital Management LLC’s holdings, making the stock its 14th largest position. Adalta Capital Management LLC’s holdings in MercadoLibre were worth $3,490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. LRI Investments LLC lifted its position in shares of MercadoLibre by 28.1% in the third quarter. LRI Investments LLC now owns 515 shares of the company’s stock worth $966,000 after buying an additional 113 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in MercadoLibre in the 3rd quarter worth approximately $114,417,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of MercadoLibre by 1.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 15,995 shares of the company’s stock worth $32,821,000 after acquiring an additional 227 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of MercadoLibre by 40.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after acquiring an additional 780 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in shares of MercadoLibre by 2.0% in the third quarter. MML Investors Services LLC now owns 4,379 shares of the company’s stock valued at $8,986,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $1,947.18 on Monday. The firm’s 50 day simple moving average is $2,006.79 and its 200-day simple moving average is $1,877.14. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The firm has a market cap of $98.72 billion, a PE ratio of 68.71, a price-to-earnings-growth ratio of 1.33 and a beta of 1.57.

Insiders Place Their Bets

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 value of $99,249.00. Following the completion of the sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MELI shares. Cantor Fitzgerald decreased their price target on shares of 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. Susquehanna increased their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Citigroup reduced their price objective 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. Barclays lowered their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Finally, BTIG Research cut their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,267.67.

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.