Petredis Investment Advisors LLC Has $3.92 Million Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Petredis Investment Advisors LLC lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,303 shares of the company’s stock after selling 25 shares during the period. Petredis Investment Advisors LLC’s holdings in MercadoLibre were worth $3,916,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in MercadoLibre by 39.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 235 shares of the company’s stock valued at $386,000 after purchasing an additional 67 shares in the last quarter. AE Wealth Management LLC lifted its holdings in MercadoLibre by 24.8% during the second quarter. AE Wealth Management LLC now owns 176 shares of the company’s stock valued at $289,000 after purchasing an additional 35 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in MercadoLibre by 29.6% during the second quarter. EverSource Wealth Advisors LLC now owns 70 shares of the company’s stock valued at $117,000 after purchasing an additional 16 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in shares of MercadoLibre during the second quarter valued at about $378,000. Finally, MBB Public Markets I LLC increased its position in shares of MercadoLibre by 1,134.5% during the second quarter. MBB Public Markets I LLC now owns 3,222 shares of the company’s stock valued at $5,295,000 after buying an additional 2,961 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MELI. Barclays decreased their price objective on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Redburn Atlantic assumed coverage on MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. Finally, Morgan Stanley lowered their price objective 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, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,241.00.

Insider Transactions at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction on Friday, November 29th. The shares were 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 of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,843.45 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $93.46 billion, a P/E ratio of 65.05, a PEG ratio of 0.96 and a beta of 1.60. The company has a 50-day moving average price of $1,845.02 and a 200-day moving average price of $1,909.29. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73.

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.