Apollon Wealth Management LLC Acquires 202 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Apollon Wealth Management LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 47.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 629 shares of the company’s stock after buying an additional 202 shares during the quarter. Apollon Wealth Management LLC’s holdings in MercadoLibre were worth $1,070,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MELI. Public Employees Retirement System of Ohio bought a new stake in shares of MercadoLibre during the third quarter valued at approximately $114,417,000. Principal Financial Group Inc. boosted its position in shares of MercadoLibre by 20.9% during the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares in the last quarter. KBC Group NV boosted its position in shares of MercadoLibre by 205.5% during the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after purchasing an additional 17,677 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of MercadoLibre by 37.8% during the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock valued at $271,897,000 after purchasing an additional 43,215 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in MercadoLibre by 40.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock valued at $5,598,000 after buying an additional 780 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by company insiders.

MercadoLibre Stock Down 0.3 %

MercadoLibre stock opened at $2,035.18 on Wednesday. The stock has a market cap of $103.18 billion, a PE ratio of 71.81, a price-to-earnings-growth ratio of 1.06 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The stock has a fifty day moving average of $1,832.93 and a 200 day moving average of $1,933.45.

Analysts Set New Price Targets

A number of research analysts have issued reports on MELI shares. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Barclays lowered their price objective on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Citigroup lowered their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday, November 26th. Wedbush lowered their price objective on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley lowered their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $2,244.69.

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.