Synergy Asset Management LLC Takes Position in MercadoLibre, Inc. (NASDAQ:MELI)

Synergy Asset Management LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 80 shares of the company’s stock, valued at approximately $136,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after buying an additional 248,181 shares during the period. FMR LLC boosted its stake in shares of MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock worth $1,803,665,000 after purchasing an additional 137,564 shares during the period. Wellington Management Group LLP grew its holdings in MercadoLibre by 52.9% during the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock valued at $717,525,000 after purchasing an additional 120,922 shares during the last quarter. Swedbank AB raised its position in MercadoLibre by 352.8% in the 3rd 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. Finally, Jennison Associates LLC lifted its stake in MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after purchasing an additional 70,154 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

MELI has been the topic of a number of analyst reports. Citigroup cut their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Barclays reduced their target price on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and boosted their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a research note on Tuesday, January 21st. Finally, Wedbush lowered their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Buy” and an average target price of $2,244.69.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,947.32 on Friday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a market cap of $98.73 billion, a P/E ratio of 68.71, a P/E/G ratio of 0.96 and a beta of 1.60. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average price is $1,841.64 and its 200-day moving average price is $1,914.92.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

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.