Hilltop National Bank Increases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Hilltop National Bank lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 82.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102 shares of the company’s stock after buying an additional 46 shares during the quarter. Hilltop National Bank’s holdings in MercadoLibre were worth $173,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MELI. International Assets Investment Management LLC boosted its stake in shares of MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares in the last quarter. FMR LLC boosted its stake in shares of MercadoLibre by 18.6% in the third quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after buying an additional 120,922 shares in the last quarter. Swedbank AB boosted its stake in shares of MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after buying an additional 73,336 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after buying an additional 70,154 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction on 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 directly owns 238 shares in the company, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,758.77 on Friday. The firm has a market capitalization of $89.16 billion, a P/E ratio of 62.06, a PEG ratio of 1.24 and a beta of 1.60. The stock has a fifty day moving average price of $1,871.83 and a 200 day moving average price of $1,897.76. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. BTIG Research decreased their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Raymond James began coverage on MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective for the company. Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. Barclays reduced their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Finally, Morgan Stanley reduced their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.