CWA Asset Management Group LLC Acquires New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

CWA Asset Management Group LLC acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,719 shares of the company’s stock, valued at approximately $4,623,000.

Several other large investors have also bought and sold shares of the business. Planning Capital Management Corp boosted its stake in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after buying an additional 5 shares in the last quarter. Mount Lucas Management LP boosted its stake in shares of MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after purchasing an additional 5 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of MercadoLibre by 0.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC boosted its stake in shares of MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after purchasing an additional 6 shares in the last quarter. Finally, Strategic Blueprint LLC boosted its stake in shares of MercadoLibre by 0.9% during the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after purchasing an additional 6 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wedbush reissued an “outperform” rating and set a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 13th. Redburn Atlantic began coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Citigroup lowered their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Finally, BTIG Research lowered their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,267.67.

MercadoLibre Stock Down 1.9 %

Shares of NASDAQ MELI traded down $35.27 during midday trading on Monday, hitting $1,798.90. 134,984 shares of the stock traded hands, compared to its average volume of 344,168. The company has a market cap of $91.20 billion, a PE ratio of 63.48, a P/E/G ratio of 1.24 and a beta of 1.60. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The business has a 50 day moving average price of $1,899.59 and a two-hundred day moving average price of $1,896.04. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction that occurred on 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 transaction, the director now owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

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.