CHURCHILL MANAGEMENT Corp Decreases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

CHURCHILL MANAGEMENT Corp decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 7.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 541 shares of the company’s stock after selling 45 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in MercadoLibre were worth $920,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MELI. Optimum Investment Advisors boosted its stake in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares in the last quarter. Quarry LP bought a new stake in MercadoLibre in the second quarter worth $43,000. Legacy Bridge LLC boosted its position in 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 buying an additional 8 shares during the period. GAMMA Investing LLC grew its stake in shares of MercadoLibre by 123.1% during the fourth quarter. GAMMA Investing LLC now owns 29 shares of the company’s stock valued at $49,000 after buying an additional 16 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in shares of MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after buying an additional 7 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 0.1 %

NASDAQ MELI opened at $1,837.18 on Friday. The firm has a market capitalization of $93.15 billion, a PE ratio of 64.83, a P/E/G ratio of 0.92 and a beta of 1.60. The stock’s 50 day moving average is $1,853.04 and its 200 day moving average is $1,901.98. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Analysts Set New Price Targets

MELI has been the subject of several analyst reports. Morgan Stanley dropped their target price 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. Barclays cut their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. BTIG Research lowered their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Raymond James assumed coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target on the stock. Finally, Redburn Atlantic initiated coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective for the company. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,247.67.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the transaction, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

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.