Kovack Advisors Inc. Has $1.62 Million Stock Position in MercadoLibre, Inc. $MELI

Kovack Advisors Inc. lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 40.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 694 shares of the company’s stock after selling 464 shares during the quarter. Kovack Advisors Inc.’s holdings in MercadoLibre were worth $1,622,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. Jennison Associates LLC grew its stake in shares of MercadoLibre by 7.0% in the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after buying an additional 81,124 shares in the last quarter. Lavaca Capital LLC raised its position in MercadoLibre by 140,201.3% during the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock valued at $2,786,888,000 after acquiring an additional 1,065,530 shares in the last quarter. Schroder Investment Management Group lifted its stake in MercadoLibre by 16.6% in the second quarter. Schroder Investment Management Group now owns 521,833 shares of the company’s stock valued at $1,363,878,000 after acquiring an additional 74,201 shares during the last quarter. WCM Investment Management LLC grew its position in MercadoLibre by 0.4% in the third quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock worth $1,244,447,000 after acquiring an additional 1,833 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in MercadoLibre by 3.6% in the second quarter. Ameriprise Financial Inc. now owns 271,202 shares of the company’s stock worth $709,535,000 after acquiring an additional 9,474 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MercadoLibre

In related news, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the transaction, the director owned 257 shares of the company’s stock, valued at approximately $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,136 shares of company stock worth $2,308,788. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MELI shares. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. Cantor Fitzgerald reduced their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. Finally, JPMorgan Chase & Co. raised MercadoLibre from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $2,650.00 to $2,800.00 in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,872.00.

MercadoLibre Stock Performance

MELI opened at $1,996.87 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average price is $2,062.15 and its two-hundred day moving average price is $2,180.65. The firm has a market capitalization of $101.24 billion, a P/E ratio of 48.73, a price-to-earnings-growth ratio of 0.99 and a beta of 1.44. MercadoLibre, Inc. has a 12-month low of $1,723.90 and a 12-month high of $2,645.22.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.