Matrix Trust Co Invests in MercadoLibre, Inc.

Matrix Trust Co has taken a significant step by acquiring a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, according to reports from Holdings Channel. The investment fund has secured 85 shares of the company, with a total value estimated at around $145,000.

In addition to Matrix Trust Co, several other hedge funds have made adjustments to their positions in MercadoLibre recently. Notably, Acadian Asset Management LLC entered the market with a new stake worth $1,023,000 during the second quarter. Oppenheimer & Co. Inc. increased its holdings by 2.6% in the same period, acquiring an additional 31 shares and bringing its total to 1,222 shares, now valued at $2,008,000. Furthermore, GHP Investment Advisors Inc. expanded its stake significantly by 41.7%, totaling 34 shares worth $56,000 after purchasing 10 more shares last quarter.

HBK Sorce Advisory LLC also established a new position in MercadoLibre valued at approximately $302,000 in the second quarter. Lastly, J.W. Cole Advisors Inc. raised its ownership dramatically by 159.4%, now holding 978 shares valued at $1,607,000 after acquiring an additional 601 shares. Overall, hedge funds and other institutional investors now control about 87.62% of MercadoLibre's stock.

Current Stock Performance

The current share price of MercadoLibre is reported at $1,740.00 as of Tuesday. The company's stock has fluctuated significantly over the past year, with a 12-month low of $1,324.99 and a high of $2,161.73. Presently, the market capitalization stands at $88.21 billion, with a P/E ratio of 61.40 and a PEG ratio of 1.24, indicating the company's valuation amidst market conditions. Additionally, the stock has a beta of 1.60, demonstrating its volatility in the stock market. The financial metrics reveal a current ratio of 1.25, a quick ratio of 1.22, and a debt-to-equity ratio of 0.78, presenting an overview of the company's financial health. The moving averages for the past 50 days and 200 days are $1,865.35 and $1,901.65, respectively.

Analyst Recommendations

Several research firms have recently reassessed their outlook on MercadoLibre's stock. Barclays has cut its target price from $2,500.00 to $2,200.00, maintaining an “overweight” rating. Meanwhile, Raymond James has started coverage, setting a price target of $2,350.00 with an “outperform” rating. Morgan Stanley also lowered its target from $2,500.00 to $2,450.00 while holding an “overweight” designation. Redburn Atlantic began coverage as well, offering a “buy” rating with a target of $2,800. Citigroup has adjusted its price objective downwards from $2,480.00 to $2,450.00 but continues to endorse a “buy” rating. In total, three analysts have rated the stock as a hold, fourteen as a buy, and one as a strong buy, leading to a consensus rating of “Moderate Buy” and a target price consensus of $2,247.67, according to MarketBeat.

Insider Trading Activities

In related news, within the company, Director Emiliano Calemzuk sold 50 shares on November 29 at an average price of $1,984.98, resulting in a transaction totaling $99,249. Following this sale, the director retained ownership of 238 shares valued at approximately $472,425.24, marking a 17.36% decrease in their stake. This transaction was recorded in a disclosure filed with the SEC.

About MercadoLibre, Inc.

MercadoLibre, Inc. operates various online commerce platforms, primarily in the United States. Its Mercado Libre Marketplace serves as a digital platform for businesses and individuals to buy and sell items, while Mercado Pago offers financial technology solutions facilitating online transactions. This dual offering positions MercadoLibre as a significant player in both e-commerce and fintech sectors.

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