Comerica Bank reduced its holdings in Mercadolibre Inc (NASDAQ:MELI) by 62.9% in the 4th quarter, HoldingsChannel reports. The fund owned 18,614 shares of the company’s stock after selling 31,555 shares during the period. Comerica Bank’s holdings in Mercadolibre were worth $6,619,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Kovack Advisors Inc. purchased a new stake in Mercadolibre in the 4th quarter worth about $202,000. Engineers Gate Manager LP purchased a new stake in Mercadolibre in the 4th quarter worth about $361,000. Parametrica Management Ltd lifted its stake in Mercadolibre by 17.9% in the 4th quarter. Parametrica Management Ltd now owns 1,214 shares of the company’s stock worth $382,000 after acquiring an additional 184 shares in the last quarter. Howland Capital Management LLC lifted its stake in Mercadolibre by 3.3% in the 4th quarter. Howland Capital Management LLC now owns 14,993 shares of the company’s stock worth $4,718,000 after acquiring an additional 484 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in Mercadolibre by 2.3% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 131,884 shares of the company’s stock worth $41,499,000 after acquiring an additional 2,932 shares in the last quarter. 89.61% of the stock is owned by hedge funds and other institutional investors.
Mercadolibre Inc (NASDAQ MELI) opened at $335.86 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.76. Mercadolibre Inc has a one year low of $190.07 and a one year high of $395.67. The firm has a market capitalization of $14,830.00, a P/E ratio of 111.58, a P/E/G ratio of 4.50 and a beta of 2.15.
A number of research firms have recently weighed in on MELI. Goldman Sachs Group reaffirmed a “neutral” rating and set a $378.00 price target (up from $222.00) on shares of Mercadolibre in a research note on Thursday. BidaskClub downgraded Mercadolibre from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research raised Mercadolibre from a “hold” rating to a “buy” rating and set a $433.00 price target for the company in a research note on Wednesday, January 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $415.00 price target (up from $350.00) on shares of Mercadolibre in a research note on Sunday, January 28th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $385.00 price target (up from $380.00) on shares of Mercadolibre in a research note on Monday, January 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $307.58.
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Mercadolibre Company Profile
MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).
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