Financial Counselors Inc. Invests $207,000 in MercadoLibre, Inc. (NASDAQ:MELI)

Financial Counselors Inc. bought a new position in MercadoLibre, Inc. (NASDAQ:MELI) in the 3rd quarter, Holdings Channel.com reports. The fund bought 101 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MELI. International Assets Investment Management LLC increased its position 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 worth $509,506,000 after purchasing an additional 248,181 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at about $2,913,000. FMR LLC boosted its holdings in shares of MercadoLibre by 18.6% in the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after buying an additional 137,564 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at about $121,137,000. Finally, Swedbank AB boosted its holdings in shares of MercadoLibre by 352.8% in the 3rd quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after buying an additional 73,336 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on MELI shares. JPMorgan Chase & Co. decreased their price target on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating for the company in a report on Wednesday, November 13th. Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. BTIG Research decreased their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group lifted their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, Susquehanna boosted 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Trading Down 2.9 %

Shares of NASDAQ:MELI opened at $1,985.17 on Monday. The company has a 50 day moving average of $2,020.96 and a 200-day moving average of $1,869.98. The firm has a market cap of $100.65 billion, a P/E ratio of 70.05, a P/E/G ratio of 1.35 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 current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

About MercadoLibre

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.