Matthews International Capital Management LLC Cuts Position in MercadoLibre, Inc. (NASDAQ:MELI)

Matthews International Capital Management LLC lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 56.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 369 shares of the company’s stock after selling 474 shares during the quarter. Matthews International Capital Management LLC’s holdings in MercadoLibre were worth $627,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MELI. Dimensional Fund Advisors LP grew its stake in MercadoLibre by 39.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 235 shares of the company’s stock valued at $386,000 after acquiring an additional 67 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in MercadoLibre by 26.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,194 shares of the company’s stock valued at $47,978,000 after purchasing an additional 6,153 shares in the last quarter. Mackenzie Financial Corp grew its position in shares of MercadoLibre by 3.0% in the second quarter. Mackenzie Financial Corp now owns 1,727 shares of the company’s stock valued at $2,838,000 after purchasing an additional 51 shares during the period. Algert Global LLC increased its stake in shares of MercadoLibre by 30.0% during the second quarter. Algert Global LLC now owns 390 shares of the company’s stock worth $641,000 after purchasing an additional 90 shares in the last quarter. Finally, Creative Planning raised its position in shares of MercadoLibre by 44.6% during the 2nd quarter. Creative Planning now owns 6,027 shares of the company’s stock worth $9,904,000 after purchasing an additional 1,859 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. dropped their price target on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Wedbush decreased their price objective 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. Morgan Stanley reduced their target price on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Finally, Barclays lowered their price target on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,241.00.

MercadoLibre Stock Up 0.1 %

Shares of MELI opened at $1,846.00 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market cap of $93.59 billion, a P/E ratio of 65.14, a price-to-earnings-growth ratio of 0.96 and a beta of 1.60. The company’s 50-day moving average price is $1,844.29 and its 200 day moving average price is $1,913.18. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73.

Insider Activity

In other news, Director Emiliano Calemzuk sold 50 shares of MercadoLibre stock in a transaction 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 completion of the sale, the director now directly owns 238 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Insiders own 0.06% of the company’s stock.

MercadoLibre 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.