Kingsview Wealth Management LLC Has $874,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Kingsview Wealth Management LLC lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 11.2% during the third quarter, HoldingsChannel reports. The firm owned 426 shares of the company’s stock after purchasing an additional 43 shares during the period. Kingsview Wealth Management LLC’s holdings in MercadoLibre were worth $874,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Raymond James & Associates increased its position in MercadoLibre by 4.8% in the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after buying an additional 1,604 shares during the period. KBC Group NV grew its stake in shares of MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after acquiring an additional 17,677 shares during the last quarter. Caprock Group LLC increased its position in MercadoLibre by 143.7% during the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after acquiring an additional 342 shares during the period. Sarasin & Partners LLP raised its stake in MercadoLibre by 168.5% during the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after purchasing an additional 28,494 shares during the last quarter. Finally, Parnassus Investments LLC raised its stake in MercadoLibre by 3.0% during the 3rd quarter. Parnassus Investments LLC now owns 14,903 shares of the company’s stock valued at $30,580,000 after purchasing an additional 436 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a report on Wednesday, November 13th. Redburn Atlantic initiated coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price on the stock. Barclays cut their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Bank of America lifted their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Citigroup cut their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a research note on Tuesday. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $2,267.67.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,110.00 on Wednesday. The firm has a market cap of $106.97 billion, a PE ratio of 74.45, a price-to-earnings-growth ratio of 1.37 and a beta of 1.61. The company’s 50-day moving average price is $2,025.78 and its two-hundred day moving average price is $1,862.98. 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.

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.