Trivant Custom Portfolio Group LLC Purchases 388 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Trivant Custom Portfolio Group LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 776.0% in the fourth quarter, Holdings Channel reports. The firm owned 438 shares of the company’s stock after acquiring an additional 388 shares during the quarter. Trivant Custom Portfolio Group LLC’s holdings in MercadoLibre were worth $745,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Optimum Investment Advisors raised its holdings in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares during the last quarter. Legacy Bridge LLC increased its holdings in shares of MercadoLibre by 53.3% in the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock worth $47,000 after purchasing an additional 8 shares in the last quarter. Quarry LP purchased a new position in shares of MercadoLibre in the second quarter worth $43,000. NBC Securities Inc. lifted its holdings in shares of MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of MercadoLibre by 123.1% during the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock valued at $49,000 after buying an additional 16 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI opened at $1,836.00 on Friday. The company has a 50 day simple moving average of $1,854.30 and a two-hundred day simple moving average of $1,901.53. 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 cap of $93.09 billion, a P/E ratio of 64.78, a PEG ratio of 0.92 and a beta of 1.60. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction dated Friday, November 29th. The stock was 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 in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on MELI shares. Redburn Atlantic started coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Citigroup lowered their price objective on shares of 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. JPMorgan Chase & Co. dropped their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Wedbush decreased their target price 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. Finally, BTIG Research dropped their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,247.67.

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.