Joel Isaacson & Co. LLC Sells 100 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Joel Isaacson & Co. LLC trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 392 shares of the company’s stock after selling 100 shares during the period. Joel Isaacson & Co. LLC’s holdings in MercadoLibre were worth $804,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GQG Partners LLC increased its position in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares during the last quarter. International Assets Investment Management LLC lifted its stake in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after acquiring an additional 248,181 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after acquiring an additional 232,787 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of MercadoLibre during the 2nd quarter worth about $2,913,000. Finally, Janus Henderson Group PLC raised its holdings in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MELI. Redburn Atlantic initiated coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target on the stock. Citigroup upped their target price on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research report on Tuesday. Susquehanna lifted their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Bank of America upped their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,301.67.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,047.35 on Friday. The firm has a market capitalization of $103.80 billion, a price-to-earnings ratio of 73.99, a PEG ratio of 1.26 and a beta of 1.61. MercadoLibre, Inc. has a one year low of $1,162.73 and a one year high of $2,161.73. The business has a 50-day simple moving average of $2,045.69 and a 200 day simple moving average of $1,777.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the firm posted $5.16 EPS. MercadoLibre’s revenue was up 41.5% compared to the same quarter last year. On average, research analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal year.

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.