Traynor Capital Management Inc. Buys 78 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Traynor Capital Management Inc. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 32.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 319 shares of the company’s stock after acquiring an additional 78 shares during the quarter. Traynor Capital Management Inc.’s holdings in MercadoLibre were worth $501,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MELI. Salem Investment Counselors Inc. grew its position in MercadoLibre by 500.0% during the third quarter. Salem Investment Counselors Inc. now owns 24 shares of the company’s stock valued at $30,000 after buying an additional 20 shares during the period. Proffitt & Goodson Inc. bought a new stake in MercadoLibre during the third quarter valued at approximately $32,000. Castleview Partners LLC grew its position in MercadoLibre by 58.8% during the second quarter. Castleview Partners LLC now owns 27 shares of the company’s stock valued at $32,000 after buying an additional 10 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in MercadoLibre during the third quarter valued at approximately $36,000. Finally, NBC Securities Inc. bought a new stake in MercadoLibre during the third quarter valued at approximately $35,000. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on MELI. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $2,000.00 price target on shares of MercadoLibre in a report on Tuesday, March 5th. Citigroup lowered their price target on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday. Susquehanna lifted their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. Finally, StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,817.86.

MercadoLibre Price Performance

Shares of MELI stock traded down $10.69 during mid-day trading on Friday, hitting $1,511.96. The company had a trading volume of 262,030 shares, compared to its average volume of 393,036. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The stock’s 50 day moving average price is $1,654.04 and its 200-day moving average price is $1,508.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The company has a market capitalization of $76.66 billion, a P/E ratio of 77.38, a P/E/G ratio of 1.00 and a beta of 1.45.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $6.66 by ($3.41). MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.14 billion. During the same period last year, the firm posted $3.25 EPS. MercadoLibre’s quarterly revenue was up 42.0% compared to the same quarter last year. Equities research analysts forecast that MercadoLibre, Inc. will post 36.06 earnings per share for the current 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.