AGF Management Ltd. Sells 48,175 Shares of MercadoLibre, Inc. $MELI

AGF Management Ltd. cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 98.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 656 shares of the company’s stock after selling 48,175 shares during the quarter. AGF Management Ltd.’s holdings in MercadoLibre were worth $1,533,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in MercadoLibre during the 2nd quarter worth approximately $29,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of MercadoLibre during the third quarter valued at $35,000. Cullen Frost Bankers Inc. lifted its holdings in shares of MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after purchasing an additional 8 shares during the period. Curio Wealth LLC lifted its holdings in shares of MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after purchasing an additional 14 shares during the period. Finally, Stone House Investment Management LLC bought a new stake in shares of MercadoLibre in the second quarter worth $39,000. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Trading Down 0.9%

Shares of MELI stock opened at $2,034.76 on Friday. The company has a market cap of $103.16 billion, a P/E ratio of 49.65, a PEG ratio of 1.02 and a beta of 1.44. The stock has a 50 day simple moving average of $2,077.08 and a two-hundred day simple moving average of $2,209.58. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. MercadoLibre, Inc. has a fifty-two week low of $1,723.90 and a fifty-two week high of $2,645.22.

Insider Buying and Selling at MercadoLibre

In other news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the sale, the director owned 257 shares of the company’s stock, valued at approximately $521,034.09. This represents a 14.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,136 shares of company stock valued at $2,308,788. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MELI. JPMorgan Chase & Co. raised their target price on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Wedbush lowered their price objective on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a research report on Friday, December 19th. BTIG Research reiterated a “buy” rating and issued a $2,750.00 target price on shares of MercadoLibre in a report on Wednesday. Barclays raised their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Finally, Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,876.88.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.