MercadoLibre, Inc. $MELI Holdings Lowered by Traynor Capital Management Inc.

Traynor Capital Management Inc. trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 50.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 498 shares of the company’s stock after selling 504 shares during the period. Traynor Capital Management Inc.’s holdings in MercadoLibre were worth $861,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of MELI. Dala Group LLC grew its position in MercadoLibre by 12.6% in the 3rd quarter. Dala Group LLC now owns 1,569 shares of the company’s stock valued at $2,711,000 after purchasing an additional 175 shares during the period. Greenleaf Trust increased its stake in MercadoLibre by 7.0% in the 3rd quarter. Greenleaf Trust now owns 289 shares of the company’s stock valued at $500,000 after buying an additional 19 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of MercadoLibre during the third quarter valued at approximately $62,668,000. SFE Investment Counsel increased its position in shares of MercadoLibre by 50.9% during the 3rd quarter. SFE Investment Counsel now owns 430 shares of the company’s stock valued at $743,000 after purchasing an additional 145 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in MercadoLibre by 4.4% in the third quarter. ProShare Advisors LLC now owns 50,336 shares of the company’s stock worth $87,007,000 after acquiring an additional 2,129 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MELI. Citigroup upgraded MercadoLibre from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $2,100.00 to $2,050.00 in a research note on Tuesday, October 27th. BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, October 27th. Susquehanna lifted their target price on shares of MercadoLibre to $2,400.00 and gave the stock a “positive” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Tuesday, September 29th. Thirteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,248.75.

MercadoLibre Stock Up 3.2%

MELI stock opened at $1,676.79 on Tuesday. The company’s 50 day moving average is $1,835.73 and its 200 day moving average is $1,813.90. The stock has a market cap of $85.01 billion, a price-to-earnings ratio of 45.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,387.55.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The firm’s revenue was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.31 earnings per share. Sell-side analysts predict that MercadoLibre, Inc. will post 38.09 EPS for the current fiscal year.

MercadoLibre Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.