Citizens Financial Group Inc. RI Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Citizens Financial Group Inc. RI acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 102 shares of the company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also modified their holdings 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 in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter valued at about $2,913,000. Janus Henderson Group PLC increased its stake in MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares during the period. Manning & Napier Advisors LLC acquired a new position in MercadoLibre in the second quarter worth about $121,137,000. Finally, Swedbank AB lifted its stake 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 currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Bank of America increased their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Raymond James began coverage on shares of MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price on the stock. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Susquehanna boosted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,005.00 on Friday. The firm has a market capitalization of $101.65 billion, a price-to-earnings ratio of 70.75, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average of $2,025.17 and a 200-day moving average of $1,856.21.

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.