Assetmark Inc. Raises Position in MercadoLibre, Inc. $MELI

Assetmark Inc. grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,540 shares of the company’s stock after buying an additional 523 shares during the quarter. Assetmark Inc.’s holdings in MercadoLibre were worth $8,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Public Sector Pension Investment Board boosted its holdings in shares of MercadoLibre by 26.0% in the third quarter. Public Sector Pension Investment Board now owns 9,686 shares of the company’s stock valued at $22,636,000 after acquiring an additional 2,000 shares in the last quarter. Varma Mutual Pension Insurance Co grew its holdings in shares of MercadoLibre by 9.2% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 7,121 shares of the company’s stock valued at $16,641,000 after acquiring an additional 600 shares in the last quarter. Haven Private LLC raised its stake in shares of MercadoLibre by 3.5% during the 3rd quarter. Haven Private LLC now owns 628 shares of the company’s stock worth $1,468,000 after purchasing an additional 21 shares in the last quarter. PFG Private Wealth Management LLC acquired a new stake in MercadoLibre in the third quarter valued at approximately $425,000. Finally, Cibc World Market Inc. boosted its holdings in MercadoLibre by 10.1% in the third quarter. Cibc World Market Inc. now owns 4,412 shares of the company’s stock worth $10,311,000 after purchasing an additional 405 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,136 shares of company stock valued at $2,308,788. 0.25% of the stock is owned by company insiders.

Analysts Set New Price Targets

MELI has been the subject of a number of research analyst reports. Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. JPMorgan Chase & Co. raised shares of MercadoLibre from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $2,650.00 to $2,800.00 in a report on Thursday, February 12th. Barclays increased their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Finally, Morgan Stanley increased their price objective on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $2,886.25.

MercadoLibre Stock Down 0.9%

Shares of NASDAQ MELI opened at $1,988.26 on Tuesday. The company has a market cap of $100.80 billion, a price-to-earnings ratio of 48.52, a PEG ratio of 0.99 and a beta of 1.44. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $2,064.20 and a two-hundred day moving average price of $2,188.78. MercadoLibre, Inc. has a 12 month low of $1,723.90 and a 12 month high of $2,645.22.

MercadoLibre Company Profile

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.