GenTrust LLC Sells 211 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

GenTrust LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,267 shares of the company’s stock after selling 211 shares during the quarter. GenTrust LLC’s holdings in MercadoLibre were worth $10,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Planning Capital Management Corp increased its position in shares of MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after acquiring an additional 5 shares during the last quarter. Mount Lucas Management LP increased its position in MercadoLibre by 3.6% in the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after buying an additional 5 shares during the last quarter. Belpointe Asset Management LLC increased its position in MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after buying an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock worth $2,419,000 after buying an additional 6 shares during the last quarter. Finally, Evolutionary Tree Capital Management LLC increased its position in MercadoLibre by 0.3% in the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock worth $3,403,000 after buying an additional 6 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup raised their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. BTIG Research decreased their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. decreased their target price on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a research report on Wednesday, November 13th. Susquehanna raised their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Finally, Redburn Atlantic initiated coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

MercadoLibre Stock Up 1.9 %

Shares of NASDAQ:MELI opened at $2,005.00 on Friday. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The company has a market cap of $101.65 billion, a PE ratio of 70.75, a P/E/G ratio of 1.34 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock’s 50-day moving average is $2,025.17 and its 200 day moving average is $1,855.05.

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.