Harbor Capital Advisors Inc. Sells 556 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Harbor Capital Advisors Inc. trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 18.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,432 shares of the company’s stock after selling 556 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in MercadoLibre were worth $4,135,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MELI. Hilltop National Bank raised its position in shares of MercadoLibre by 82.1% in the fourth quarter. Hilltop National Bank now owns 102 shares of the company’s stock valued at $173,000 after purchasing an additional 46 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in MercadoLibre by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,223 shares of the company’s stock worth $7,181,000 after acquiring an additional 36 shares during the period. Range Financial Group LLC acquired a new position in MercadoLibre during the 4th quarter worth $296,000. CWA Asset Management Group LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $4,623,000. Finally, Nordea Investment Management AB grew its position in shares of MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after purchasing an additional 43,215 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on MELI shares. Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Barclays reduced their target price on 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. Citigroup lowered their price target on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. JPMorgan Chase & Co. decreased their target price on shares of MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Wedbush dropped their price target on shares of 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. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,247.67.

MercadoLibre Trading Up 1.1 %

NASDAQ MELI opened at $1,758.77 on Friday. 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 stock’s 50-day moving average is $1,871.83 and its 200-day moving average is $1,897.76. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The firm has a market cap of $89.16 billion, a P/E ratio of 62.06, a P/E/G ratio of 1.24 and a beta of 1.60.

Insider Buying and Selling

In other news, Director Emiliano Calemzuk sold 50 shares of the stock in a transaction 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is 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.