MercadoLibre, Inc. $MELI Stock Sold by Investment House LLC

Investment House LLC lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,550 shares of the company’s stock after selling 2,821 shares during the quarter. MercadoLibre makes up 1.5% of Investment House LLC’s portfolio, making the stock its 14th biggest position. Investment House LLC’s holdings in MercadoLibre were worth $33,793,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wedbush Fund Advisers LLC bought a new position in MercadoLibre in the second quarter worth about $29,000. Twin Lakes Capital Management LLC bought a new stake in shares of MercadoLibre during the 2nd quarter valued at $31,000. Markowski Investments purchased a new position in MercadoLibre during the 2nd quarter valued at about $36,000. Byrne Asset Management LLC purchased a new stake in MercadoLibre in the third quarter worth about $40,000. Finally, Continuum Advisory LLC bought a new position in shares of MercadoLibre during the second quarter valued at approximately $44,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Citigroup cut their target price on MercadoLibre from $2,150.00 to $2,100.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 13th. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. BTIG Research reissued a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a report on Thursday, September 3rd. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Susquehanna upped their price objective on MercadoLibre to $2,400.00 and gave the company a “positive” rating in a research report on Tuesday, October 6th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,251.88.

MercadoLibre Trading Down 1.6%

Shares of MELI stock opened at $1,824.95 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a fifty day simple moving average of $1,862.71 and a two-hundred day simple moving average of $1,788.57. The firm has a market capitalization of $92.52 billion, a PE ratio of 49.63, a PEG ratio of 1.30 and a beta of 1.31. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,428.00.

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

MercadoLibre Company 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.