235 Shares in MercadoLibre, Inc. (NASDAQ:MELI) Acquired by Cynosure Group LLC

Cynosure Group LLC bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 3rd quarter, Holdings Channel.com reports. The fund bought 235 shares of the company’s stock, valued at approximately $483,000.

Several other large investors also recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its stake in shares of MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of MercadoLibre during the 2nd quarter worth about $2,913,000. FMR LLC increased its holdings in shares of MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after acquiring an additional 137,564 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of MercadoLibre in the 2nd quarter valued at approximately $121,137,000. Finally, Swedbank AB boosted its position in MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock worth $193,137,000 after purchasing an additional 73,336 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 3.1 %

MELI opened at $2,044.76 on Thursday. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The firm has a 50-day moving average price of $2,024.62 and a two-hundred day moving average price of $1,864.25. The stock has a market capitalization of $103.67 billion, a PE ratio of 72.15, a PEG ratio of 1.43 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup lowered their price target on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research report on Tuesday. Bank of America boosted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Raymond James assumed coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 13th. Finally, Morgan Stanley reduced their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,267.67.

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.