Curi RMB Capital LLC Buys New Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Curi RMB Capital LLC purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 161 shares of the company’s stock, valued at approximately $330,000.

Other institutional investors also recently added to or reduced their stakes in the company. Aubrey Capital Management Ltd lifted its position in shares of MercadoLibre by 0.6% during the 3rd quarter. Aubrey Capital Management Ltd now owns 13,788 shares of the company’s stock worth $28,292,000 after buying an additional 80 shares during the period. Planning Capital Management Corp raised its stake in MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares in the last quarter. Zions Bancorporation N.A. raised its stake in MercadoLibre by 976.9% during the third quarter. Zions Bancorporation N.A. now owns 140 shares of the company’s stock worth $287,000 after acquiring an additional 127 shares in the last quarter. KBC Group NV lifted its holdings in shares of MercadoLibre by 205.5% during the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock valued at $53,923,000 after acquiring an additional 17,677 shares during the period. Finally, Fortis Capital Management LLC boosted its stake in shares of MercadoLibre by 1.5% in the 3rd quarter. Fortis Capital Management LLC now owns 2,369 shares of the company’s stock valued at $4,861,000 after purchasing an additional 36 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,880.00 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The firm has a market cap of $95.31 billion, a price-to-earnings ratio of 66.34, a PEG ratio of 1.31 and a beta of 1.61. The stock has a 50-day moving average price of $2,037.61 and a 200 day moving average price of $1,840.97.

Wall Street Analyst Weigh In

MELI has been the subject of a number of recent analyst reports. Morgan Stanley dropped their target price on shares of 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. Citigroup raised their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. 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 report on Tuesday, November 12th. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Finally, StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,269.67.

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.