Central Pacific Bank Trust Division Cuts Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Central Pacific Bank Trust Division decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 41.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 321 shares of the company’s stock after selling 230 shares during the period. Central Pacific Bank Trust Division’s holdings in MercadoLibre were worth $546,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of MELI. GAMMA Investing LLC increased its position in shares of MercadoLibre by 123.1% during the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock valued at $49,000 after acquiring an additional 16 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of MercadoLibre by 20.9% during the 3rd quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in shares of MercadoLibre by 10.2% during the 3rd quarter. Lord Abbett & CO. LLC now owns 107,525 shares of the company’s stock worth $220,637,000 after purchasing an additional 9,910 shares during the period. Tidal Investments LLC boosted its holdings in shares of MercadoLibre by 59.7% in the 3rd quarter. Tidal Investments LLC now owns 15,829 shares of the company’s stock worth $32,480,000 after buying an additional 5,918 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in MercadoLibre during the third quarter valued at about $977,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $1,834.17 on Friday. The company has a market cap of $92.99 billion, a PE ratio of 64.72, a P/E/G ratio of 1.24 and a beta of 1.60. The business has a 50 day moving average of $1,903.85 and a 200 day moving average of $1,889.65. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MELI. Citigroup lowered their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday, November 26th. Barclays dropped their price objective on 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. Morgan Stanley decreased their target price 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. JPMorgan Chase & Co. cut their price target on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald lowered their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

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.