Cynosure Group LLC Invests $483,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Cynosure Group LLC acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 235 shares of the company’s stock, valued at approximately $483,000.

Other large investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares during the period. Optimum Investment Advisors boosted its position in shares of MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares during the period. Financial Connections Group Inc. bought a new position in shares of MercadoLibre in the second quarter worth $36,000. Quarry LP acquired a new position in shares of MercadoLibre during the second quarter valued at $43,000. Finally, Legacy Bridge LLC raised its stake in shares of MercadoLibre by 53.3% during the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after purchasing an additional 8 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MELI shares. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Morgan Stanley lowered their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Bank of America upped their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. BTIG Research lowered their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Stock Down 3.1 %

MercadoLibre stock opened at $2,044.76 on Thursday. The firm’s 50 day moving average price is $2,024.62 and its two-hundred day moving average price is $1,864.25. The firm has a market cap of $103.67 billion, a PE ratio of 72.15, a P/E/G ratio of 1.43 and a beta of 1.61. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. 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 Company 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.