Cumberland Partners Ltd Boosts Stock Holdings in MercadoLibre, Inc. $MELI

Cumberland Partners Ltd lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 19.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,500 shares of the company’s stock after acquiring an additional 400 shares during the period. Cumberland Partners Ltd’s holdings in MercadoLibre were worth $5,842,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MELI. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre in the second quarter worth $29,000. Curio Wealth LLC increased its holdings in MercadoLibre by 1,400.0% in the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after buying an additional 14 shares in the last quarter. Stone House Investment Management LLC purchased a new position in MercadoLibre in the 2nd quarter worth about $39,000. Steigerwald Gordon & Koch Inc. bought a new position in MercadoLibre during the 3rd quarter valued at about $35,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after acquiring an additional 8 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,009.05 on Thursday. The stock has a market cap of $101.86 billion, a P/E ratio of 49.03, a P/E/G ratio of 0.98 and a beta of 1.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The stock’s fifty day moving average is $2,062.99 and its 200 day moving average is $2,184.72. MercadoLibre, Inc. has a one year low of $1,723.90 and a one year high of $2,645.22.

Analyst Ratings Changes

Several research firms have recently weighed in on MELI. Wedbush decreased their price objective on shares of MercadoLibre from $2,700.00 to $2,600.00 and set an “outperform” rating for the company in a report on Tuesday. BTIG Research reiterated a “buy” rating and set a $2,750.00 target price on shares of MercadoLibre in a research note on Wednesday, February 4th. Benchmark dropped their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,880.00.

Insider Activity

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The transaction was disclosed in a legal filing with the SEC, which is accessible 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. Insiders have sold a total of 1,136 shares of company stock valued at $2,308,788 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.