MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 10.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,800 shares of the company’s stock after selling 200 shares during the period. Cumberland Partners Ltd’s holdings in MercadoLibre were worth $3,694,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates increased its holdings in shares of MercadoLibre by 4.8% in the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock valued at $57,256,000 after buying an additional 1,604 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in MercadoLibre by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after purchasing an additional 4,658 shares during the period. Caprock Group LLC raised its stake in MercadoLibre by 143.7% during the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after purchasing an additional 342 shares during the period. Sarasin & Partners LLP raised its stake in MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new stake in MercadoLibre during the 2nd quarter valued at $875,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MELI has been the topic of several recent analyst reports. Raymond James initiated coverage on shares of MercadoLibre in a research note on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price on the stock. BTIG Research dropped their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Morgan Stanley dropped their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday. The Goldman Sachs Group upped their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Bank of America upped their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2,306.33.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI traded up $18.26 during midday trading on Tuesday, hitting $1,979.42. The company’s stock had a trading volume of 71,544 shares, compared to its average volume of 363,946. The stock has a market capitalization of $100.35 billion, a price-to-earnings ratio of 69.20, a PEG ratio of 1.15 and a beta of 1.61. The stock’s 50 day simple moving average is $2,044.44 and its 200 day simple moving average is $1,832.95. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28.

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.