Calamos Advisors LLC Has $4.69 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Calamos Advisors LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 27.7% during the 4th quarter, HoldingsChannel reports. The firm owned 2,755 shares of the company’s stock after selling 1,058 shares during the period. Calamos Advisors LLC’s holdings in MercadoLibre were worth $4,685,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Public Employees Retirement System of Ohio bought a new position in MercadoLibre in the third quarter valued at approximately $114,417,000. Principal Financial Group Inc. lifted its position in MercadoLibre by 20.9% in the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after acquiring an additional 10,272 shares in the last quarter. KBC Group NV boosted its stake in MercadoLibre by 205.5% in the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after purchasing an additional 17,677 shares during the period. Nordea Investment Management AB increased its holdings in MercadoLibre by 37.8% during the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after purchasing an additional 43,215 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after purchasing an additional 780 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MercadoLibre

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 completion of the sale, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,966.41 on Wednesday. The company has a market capitalization of $99.70 billion, a price-to-earnings ratio of 69.39, a PEG ratio of 1.02 and a beta of 1.62. 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 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a 50-day simple moving average of $1,835.81 and a 200 day simple moving average of $1,921.51.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wedbush reduced their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Citigroup decreased their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research report on Tuesday, January 21st. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Finally, BTIG Research lowered their price target on shares of 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. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $2,244.69.

MercadoLibre Company 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.