GAMMA Investing LLC Buys 16 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

GAMMA Investing LLC raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 123.1% in the fourth quarter, Holdings Channel reports. The fund owned 29 shares of the company’s stock after acquiring an additional 16 shares during the period. GAMMA Investing LLC’s holdings in MercadoLibre were worth $49,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Optimum Investment Advisors lifted its holdings in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares during the period. Legacy Bridge LLC lifted its holdings in shares of MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after acquiring an additional 8 shares during the period. Quarry LP bought a new position in shares of MercadoLibre during the second quarter valued at $43,000. NBC Securities Inc. increased its stake in shares of MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its stake in shares of MercadoLibre by 41.7% in the second quarter. GHP Investment Advisors Inc. now owns 34 shares of the company’s stock valued at $56,000 after buying an additional 10 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, the director now owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,740.00 on Tuesday. The firm has a market capitalization of $88.21 billion, a P/E ratio of 61.40, a PEG ratio of 1.24 and a beta of 1.60. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The business has a 50-day moving average of $1,865.35 and a 200-day moving average of $1,901.65. 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 Ratings Changes

MELI has been the subject of a number of research reports. Citigroup lowered their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Morgan Stanley lowered their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Cantor Fitzgerald lowered their target price 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. Raymond James initiated coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Finally, Wedbush lowered their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Three 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,247.67.

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.