Asio Capital LLC Increases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Asio Capital LLC raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 47.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,414 shares of the company’s stock after purchasing an additional 774 shares during the period. Asio Capital LLC’s holdings in MercadoLibre were worth $4,105,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of MELI. Dimensional Fund Advisors LP increased its stake in shares of MercadoLibre by 39.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 235 shares of the company’s stock valued at $386,000 after purchasing an additional 67 shares in the last quarter. AE Wealth Management LLC raised its stake in shares of MercadoLibre by 24.8% during the 2nd quarter. AE Wealth Management LLC now owns 176 shares of the company’s stock worth $289,000 after buying an additional 35 shares during the period. Deerfield Management Company L.P. Series C purchased a new position in shares of MercadoLibre during the 2nd quarter valued at approximately $378,000. MBB Public Markets I LLC grew its stake in MercadoLibre by 1,134.5% in the 2nd quarter. MBB Public Markets I LLC now owns 3,222 shares of the company’s stock valued at $5,295,000 after acquiring an additional 2,961 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in MercadoLibre by 26.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock worth $47,978,000 after acquiring an additional 6,153 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,843.45 on Friday. The firm has a market capitalization of $93.46 billion, a price-to-earnings ratio of 65.05, a PEG ratio of 0.96 and a beta of 1.60. 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 company’s 50-day moving average is $1,844.29 and its two-hundred day moving average is $1,910.40. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MELI shares. 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. Citigroup lowered their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Redburn Atlantic assumed coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price for the company. BTIG Research lowered 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. Finally, Morgan Stanley reduced their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,241.00.

Insider Buying and Selling

In other MercadoLibre 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 transaction, 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 filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by company insiders.

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.