Kovack Advisors Inc. Has $1.62 Million Stock Position in MercadoLibre, Inc. $MELI

Kovack Advisors Inc. lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 40.1% in the third quarter, Holdings Channel.com reports. The fund owned 694 shares of the company’s stock after selling 464 shares during the period. Kovack Advisors Inc.’s holdings in MercadoLibre were worth $1,622,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Lavaca Capital LLC lifted its position in MercadoLibre by 140,201.3% in the second quarter. Lavaca Capital LLC now owns 1,066,290 shares of the company’s stock worth $2,786,888,000 after purchasing an additional 1,065,530 shares during the period. Norges Bank bought a new stake in MercadoLibre in the 2nd quarter valued at $698,848,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of MercadoLibre by 304.7% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 255,103 shares of the company’s stock valued at $666,744,000 after buying an additional 192,071 shares in the last quarter. Flossbach Von Storch SE raised its stake in shares of MercadoLibre by 1,669.4% in the 3rd quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock valued at $424,666,000 after buying an additional 171,449 shares in the last quarter. Finally, Durable Capital Partners LP lifted its holdings in shares of MercadoLibre by 155.3% during the 2nd quarter. Durable Capital Partners LP now owns 147,984 shares of the company’s stock worth $386,775,000 after acquiring an additional 90,026 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the firm’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 completion of the sale, the director owned 257 shares in the company, valued at approximately $521,034.09. This trade represents a 14.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction that occurred on 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is owned by corporate insiders.

MercadoLibre Trading Up 0.0%

MELI stock opened at $1,996.87 on Friday. The business has a fifty day moving average price of $2,062.15 and a 200 day moving average price of $2,180.65. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a fifty-two week low of $1,723.90 and a fifty-two week high of $2,645.22. The stock has a market capitalization of $101.24 billion, a price-to-earnings ratio of 48.73, a P/E/G ratio of 0.99 and a beta of 1.44.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of analyst reports. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. BTIG Research reiterated a “buy” rating and issued a $2,750.00 price objective on shares of MercadoLibre in a research note on Wednesday, February 4th. UBS Group cut their target price on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a research report on Monday, November 24th. Finally, Morgan Stanley boosted their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,872.00.

MercadoLibre Profile

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.