City State Bank Raises Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

City State Bank raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 61.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 339 shares of the company’s stock after purchasing an additional 129 shares during the period. City State Bank’s holdings in MercadoLibre were worth $576,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Planning Capital Management Corp lifted its stake in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after buying an additional 5 shares during the last quarter. Mount Lucas Management LP raised its stake in shares of MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after purchasing an additional 5 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of MercadoLibre by 0.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after purchasing an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC raised its stake in shares of MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after purchasing an additional 6 shares during the last quarter. Finally, Strategic Blueprint LLC raised its stake in shares of MercadoLibre by 0.9% during the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after purchasing an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MELI shares. Raymond James initiated coverage on MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target for the company. JPMorgan Chase & Co. cut their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Wedbush cut 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. Cantor Fitzgerald cut their price objective on 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. Finally, Citigroup cut their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research report on Tuesday, November 26th. Three research 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’s stock. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,247.67.

MercadoLibre Trading Down 0.8 %

NASDAQ:MELI traded down $14.47 during mid-day trading on Monday, reaching $1,744.30. The company’s stock had a trading volume of 61,694 shares, compared to its average volume of 341,352. The company’s fifty day simple moving average is $1,871.83 and its two-hundred day simple moving average is $1,901.10. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The stock has a market cap of $88.43 billion, a P/E ratio of 61.55, a P/E/G ratio of 1.24 and a beta of 1.60.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 238 shares in the company, valued at $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 available through this hyperlink. 0.06% of the stock is owned by corporate 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.