Cercano Management LLC Has $12.30 Million Holdings in MercadoLibre, Inc. $MELI

Cercano Management LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,262 shares of the company’s stock after selling 560 shares during the period. Cercano Management LLC’s holdings in MercadoLibre were worth $12,297,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Quadcap Wealth Management LLC lifted its holdings in MercadoLibre by 4.2% in the 2nd quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock worth $324,000 after purchasing an additional 5 shares during the last quarter. PFW Advisors LLC raised its position in shares of MercadoLibre by 4.8% in the third quarter. PFW Advisors LLC now owns 110 shares of the company’s stock valued at $257,000 after purchasing an additional 5 shares during the period. Yousif Capital Management LLC lifted its stake in shares of MercadoLibre by 3.5% in the third quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock worth $344,000 after buying an additional 5 shares during the last quarter. Wilkinson Global Asset Management LLC boosted its holdings in shares of MercadoLibre by 2.3% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock worth $528,000 after buying an additional 5 shares during the period. Finally, Hardy Reed LLC grew its stake in MercadoLibre by 4.0% in the 3rd quarter. Hardy Reed LLC now owns 131 shares of the company’s stock valued at $306,000 after buying an additional 5 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,975.51 on Wednesday. The firm has a market capitalization of $100.16 billion, a PE ratio of 48.21, a PEG ratio of 0.99 and a beta of 1.44. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. MercadoLibre, Inc. has a 1-year low of $1,723.90 and a 1-year high of $2,645.22. The business’s 50 day moving average is $2,062.22 and its 200-day moving average is $2,185.96.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MELI shares. Morgan Stanley boosted their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. UBS Group decreased their target price on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research note on Monday, November 24th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. Benchmark cut their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. upgraded shares of MercadoLibre from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $2,650.00 to $2,800.00 in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,880.00.

Insiders Place Their Bets

In related news, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the sale, the director owned 257 shares of the company’s stock, valued at $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,136 shares of company stock worth $2,308,788 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.