Heirloom Wealth Management Purchases 2,237 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Heirloom Wealth Management increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 65.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,644 shares of the company’s stock after purchasing an additional 2,237 shares during the quarter. MercadoLibre makes up 2.9% of Heirloom Wealth Management’s portfolio, making the stock its 13th biggest position. Heirloom Wealth Management’s holdings in MercadoLibre were worth $9,597,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Planning Capital Management Corp grew its position in shares of MercadoLibre by 9.1% during the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after buying an additional 5 shares during the period. Mount Lucas Management LP grew its holdings in MercadoLibre by 3.6% during the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after acquiring an additional 5 shares during the period. Strategic Blueprint LLC raised its position in shares of MercadoLibre by 0.9% during the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after acquiring an additional 6 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares during the period. Finally, 1620 Investment Advisors Inc. boosted its position in shares of MercadoLibre by 3.7% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company’s stock worth $407,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

NASDAQ:MELI opened at $1,843.45 on Monday. The firm’s fifty day moving average price is $1,844.29 and its two-hundred day moving average price is $1,913.18. 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 company has a market cap of $93.46 billion, a P/E ratio of 65.05, a P/E/G ratio of 0.96 and a beta of 1.60. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley reduced their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Redburn Atlantic began coverage on shares of MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. BTIG Research reduced 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 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 objective for the company in a research report on Tuesday, January 21st. Finally, 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. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,241.00.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the company’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 value of $99,249.00. Following the transaction, the director now owns 238 shares of the company’s stock, valued at approximately $472,425.24. This represents a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

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.