MercadoLibre, Inc. (NASDAQ:MELI) is Perpetual Ltd’s 3rd Largest Position

Perpetual Ltd reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 150,202 shares of the company’s stock after selling 9,943 shares during the period. MercadoLibre accounts for approximately 3.0% of Perpetual Ltd’s portfolio, making the stock its 3rd largest holding. Perpetual Ltd’s holdings in MercadoLibre were worth $255,409,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Optimum Investment Advisors grew its holdings in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of MercadoLibre by 120.0% during the fourth quarter. Grove Bank & Trust now owns 22 shares of the company’s stock valued at $37,000 after acquiring an additional 12 shares in the last quarter. Quarry LP bought a new stake in MercadoLibre during the 2nd quarter valued at approximately $43,000. Legacy Bridge LLC boosted its holdings in shares of MercadoLibre by 53.3% during the 3rd quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after buying an additional 8 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in MercadoLibre by 123.1% during the 4th quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock valued at $49,000 after buying an additional 16 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,836.00 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The business’s 50-day moving average is $1,853.58 and its 200 day moving average is $1,907.54. The company has a market capitalization of $93.09 billion, a P/E ratio of 64.78, a P/E/G ratio of 0.98 and a beta of 1.60.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre 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 completion of the transaction, the director now owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

MELI has been the subject of several recent analyst reports. Redburn Atlantic started coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target for the company. Barclays dropped their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Citigroup reduced their price objective on 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 started coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. Finally, Morgan Stanley reduced their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,247.67.

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.