MercadoLibre, Inc. $MELI Shares Bought by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 218.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 598 shares of the company’s stock after purchasing an additional 410 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in MercadoLibre were worth $1,397,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in MELI. Cornerstone Planning Group LLC increased its holdings in shares of MercadoLibre by 68.8% in the third quarter. Cornerstone Planning Group LLC now owns 27 shares of the company’s stock valued at $64,000 after purchasing an additional 11 shares during the last quarter. WCM Investment Management LLC grew its holdings in MercadoLibre by 0.4% in the 3rd quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock valued at $1,244,447,000 after buying an additional 1,833 shares in the last quarter. Buck Wealth Strategies LLC acquired a new stake in shares of MercadoLibre in the 3rd quarter worth $395,000. Wilkinson Global Asset Management LLC increased its stake in shares of MercadoLibre by 2.3% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock worth $528,000 after acquiring an additional 5 shares during the last quarter. Finally, Atlantic Union Bankshares Corp raised its holdings in shares of MercadoLibre by 338.7% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 895 shares of the company’s stock worth $2,092,000 after acquiring an additional 691 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the sale, the director owned 257 shares in the company, valued at $521,034.09. This trade represents a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MELI shares. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Wedbush decreased their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a report on Friday, December 19th. Morgan Stanley raised their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. UBS Group decreased their price objective on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Finally, BTIG Research reiterated a “buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,876.88.

MercadoLibre Stock Down 2.2%

NASDAQ:MELI opened at $2,099.90 on Wednesday. MercadoLibre, Inc. has a 52 week low of $1,723.90 and a 52 week high of $2,645.22. The stock’s fifty day moving average is $2,076.66 and its two-hundred day moving average is $2,211.92. The stock has a market capitalization of $106.46 billion, a price-to-earnings ratio of 51.24, a price-to-earnings-growth ratio of 1.07 and a beta of 1.44. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55.

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.