Tamar Securities LLC Has $22.13 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Tamar Securities LLC raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,012 shares of the company’s stock after buying an additional 347 shares during the period. MercadoLibre comprises 3.1% of Tamar Securities LLC’s holdings, making the stock its 13th largest position. Tamar Securities LLC’s holdings in MercadoLibre were worth $22,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of MercadoLibre in the 3rd quarter valued at approximately $114,417,000. Principal Financial Group Inc. increased its stake in MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares in the last quarter. KBC Group NV boosted its position in shares of MercadoLibre by 205.5% during the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after buying an additional 43,215 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its position in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after buying an additional 780 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Insiders Place Their Bets

In other MercadoLibre 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 owns 238 shares of the company’s stock, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

MercadoLibre Stock Performance

MELI opened at $1,846.00 on Tuesday. The business’s 50-day simple moving average is $1,844.29 and its 200 day simple moving average is $1,913.18. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market capitalization of $93.59 billion, a PE ratio of 65.14, a PEG ratio of 0.96 and a beta of 1.60.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MELI shares. Wedbush reduced their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a report on Monday, January 6th. BTIG Research decreased their price objective 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. Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a report on Tuesday, January 21st. Finally, Redburn Atlantic started coverage on shares of MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,241.00.

MercadoLibre Company 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.