Synergy Financial Group LTD Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Synergy Financial Group LTD raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,543 shares of the company’s stock after purchasing an additional 16 shares during the quarter. MercadoLibre makes up approximately 3.0% of Synergy Financial Group LTD’s holdings, making the stock its 10th largest holding. Synergy Financial Group LTD’s holdings in MercadoLibre were worth $3,166,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares in the last quarter. Optimum Investment Advisors grew its position in shares of MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. bought a new stake in MercadoLibre during the 2nd quarter worth approximately $36,000. Quarry LP bought a new position in MercadoLibre in the second quarter valued at approximately $43,000. Finally, Legacy Bridge LLC boosted its holdings in shares of MercadoLibre by 53.3% in the third quarter. Legacy Bridge LLC now owns 23 shares of the company’s stock valued at $47,000 after buying an additional 8 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MELI shares. Barclays reduced their target price on shares of MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Morgan Stanley reduced their price objective on 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. BTIG Research cut their target price on 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. 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 research note on Thursday, November 7th. Finally, Susquehanna boosted their price objective on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Three research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

Insider Activity

In related news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares of the company’s stock, valued at $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,844.30 on Tuesday. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve 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 stock’s 50-day simple moving average is $2,002.64 and its 200 day simple moving average is $1,878.11. The firm has a market capitalization of $93.51 billion, a PE ratio of 65.08, a price-to-earnings-growth ratio of 1.33 and a beta of 1.57.

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.