AFT Forsyth & Company Inc. Reduces Position in MercadoLibre, Inc. (NASDAQ:MELI)

AFT Forsyth & Company Inc. lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,026 shares of the company’s stock after selling 67 shares during the period. AFT Forsyth & Company Inc.’s holdings in MercadoLibre were worth $1,745,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ritholtz Wealth Management grew its holdings in shares of MercadoLibre by 59.5% during the third quarter. Ritholtz Wealth Management now owns 201 shares of the company’s stock worth $412,000 after buying an additional 75 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in shares of MercadoLibre in the 3rd quarter valued at approximately $248,000. NBC Securities Inc. increased its holdings in shares of MercadoLibre by 35.0% in 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 during the period. Swedbank AB raised its stake in shares of MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after purchasing an additional 73,336 shares during the last quarter. Finally, Prospect Financial Services LLC acquired a new stake in shares of MercadoLibre during the third quarter worth $402,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citigroup dropped 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 note on Tuesday, November 26th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research note on Tuesday, January 21st. Barclays reduced their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Morgan Stanley dropped their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Finally, Wedbush cut their target price on 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. Two investment 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 stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Buy” and a consensus price target of $2,244.69.

MercadoLibre Price Performance

MercadoLibre stock opened at $2,016.73 on Thursday. The firm has a market capitalization of $102.25 billion, a PE ratio of 71.16, a P/E/G ratio of 1.06 and a beta of 1.62. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The firm’s 50-day simple moving average is $1,835.05 and its 200 day simple moving average is $1,936.15. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by company insiders.

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.