M&T Bank Corp Sells 819 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

M&T Bank Corp lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 20.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,131 shares of the company’s stock after selling 819 shares during the period. M&T Bank Corp’s holdings in MercadoLibre were worth $6,424,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MELI. Hohimer Wealth Management LLC raised its holdings in shares of MercadoLibre by 3.1% in the 3rd quarter. Hohimer Wealth Management LLC now owns 574 shares of the company’s stock valued at $1,178,000 after acquiring an additional 17 shares in the last quarter. Sunbelt Securities Inc. raised its stake in MercadoLibre by 69.9% in the third quarter. Sunbelt Securities Inc. now owns 175 shares of the company’s stock valued at $359,000 after purchasing an additional 72 shares in the last quarter. Toronto Dominion Bank lifted its position in MercadoLibre by 26.8% during the third quarter. Toronto Dominion Bank now owns 5,967 shares of the company’s stock valued at $12,244,000 after purchasing an additional 1,262 shares during the last quarter. Empire Financial Management Company LLC grew its stake in MercadoLibre by 21.4% in the 3rd quarter. Empire Financial Management Company LLC now owns 159 shares of the company’s stock worth $326,000 after buying an additional 28 shares in the last quarter. Finally, Chiron Investment Management LLC increased its holdings in shares of MercadoLibre by 91.3% in the 3rd quarter. Chiron Investment Management LLC now owns 2,644 shares of the company’s stock worth $5,425,000 after buying an additional 1,262 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of research analyst reports. Raymond James began coverage on shares of MercadoLibre in a report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price objective for the company. Morgan Stanley cut 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. Wedbush reissued an “outperform” rating and set a $2,200.00 price objective (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Cantor Fitzgerald cut 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. Finally, Susquehanna lifted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Three equities research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $2,267.67.

Insider Buying and Selling 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 transaction of $99,249.00. Following the transaction, the director now directly owns 238 shares of the company’s stock, valued at approximately $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,720.36 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market cap of $87.22 billion, a P/E ratio of 60.70, a P/E/G ratio of 1.24 and a beta of 1.57. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The firm has a 50-day moving average of $1,963.98 and a 200-day moving average of $1,883.33.

MercadoLibre 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.