Strategic Financial Concepts LLC Grows Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Strategic Financial Concepts LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 169,952.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 181,956 shares of the company’s stock after buying an additional 181,849 shares during the quarter. MercadoLibre makes up approximately 9.5% of Strategic Financial Concepts LLC’s investment portfolio, making the stock its 2nd biggest holding. Strategic Financial Concepts LLC owned about 0.36% of MercadoLibre worth $309,405,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Pacific Capital Wealth Advisors Inc. boosted its holdings in shares of MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. lifted its position in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the last quarter. Optimum Investment Advisors boosted its stake in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in MercadoLibre in the fourth quarter worth $32,000. Finally, Mather Group LLC. increased its position in shares of MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after purchasing an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MELI shares. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Morgan Stanley dropped their target price on shares of 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. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price target for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Finally, Wedbush lowered their price objective 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. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $2,244.69.

MercadoLibre Stock Performance

MELI opened at $2,109.99 on Friday. The stock has a market cap of $106.98 billion, a P/E ratio of 74.45, a P/E/G ratio of 1.06 and a beta of 1.62. 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 fifty day moving average price of $1,840.51 and a 200 day moving average price of $1,941.01. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s 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 value of $99,249.00. Following the completion of the sale, the director now directly owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.

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.