Simplex Trading LLC Sells 652 Shares of MercadoLibre, Inc. $MELI

Simplex Trading LLC reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,595 shares of the company’s stock after selling 652 shares during the period. Simplex Trading LLC’s holdings in MercadoLibre were worth $4,486,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of MELI. AlphaCore Capital LLC grew its position in MercadoLibre by 39.6% in the 3rd quarter. AlphaCore Capital LLC now owns 328 shares of the company’s stock valued at $567,000 after acquiring an additional 93 shares in the last quarter. Fulcrum Asset Management LLP purchased a new stake in MercadoLibre during the third quarter worth about $57,000. Hohimer Wealth Management LLC boosted its stake in shares of MercadoLibre by 68.5% in the third quarter. Hohimer Wealth Management LLC now owns 3,153 shares of the company’s stock valued at $5,450,000 after purchasing an additional 1,282 shares during the period. Paragon Advisors LLC grew its holdings in shares of MercadoLibre by 17.4% in the third quarter. Paragon Advisors LLC now owns 1,729 shares of the company’s stock valued at $2,989,000 after purchasing an additional 256 shares in the last quarter. Finally, Brighton Jones LLC grew its holdings in shares of MercadoLibre by 14.9% in the third quarter. Brighton Jones LLC now owns 719 shares of the company’s stock valued at $1,242,000 after purchasing an additional 93 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

Shares of MELI opened at $1,532.68 on Tuesday. The stock has a 50-day simple moving average of $1,799.34 and a 200-day simple moving average of $1,801.93. 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 market capitalization of $77.71 billion, a PE ratio of 41.11, a PEG ratio of 1.22 and a beta of 1.42. MercadoLibre, Inc. has a 1 year low of $1,469.01 and a 1 year high of $2,342.00.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $8.83 EPS for the quarter, missing analysts’ consensus estimates of $9.27 by ($0.44). MercadoLibre had a return on equity of 25.93% and a net margin of 4.91%. The company had revenue of $10.75 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the firm posted $8.32 earnings per share. The business’s quarterly revenue was up 45.1% compared to the same quarter last year. On average, analysts predict that MercadoLibre, Inc. will post 38.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on MELI. Susquehanna upped 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. Raymond James Financial reissued a “strong-buy” rating on shares of MercadoLibre in a research report on Thursday. BTIG Research dropped their price target on shares of MercadoLibre from $2,150.00 to $2,050.00 and set a “buy” rating for the company in a research note on Thursday, November 5th. JPMorgan Chase & Co. dropped their price target on shares of MercadoLibre from $2,150.00 to $1,850.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Cantor Fitzgerald cut their price objective on MercadoLibre from $2,200.00 to $2,000.00 and set an “overweight” rating on the stock in a research report on Thursday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,180.00.

More MercadoLibre News

Here are the key news stories impacting MercadoLibre this week:

• Positive Sentiment: MercadoLibre reported 45% year-over-year revenue growth in Q3. Investors also have signs of ongoing marketplace momentum: fulfillment space grew nearly 20% quarter over quarter, and orders through Brazil’s affiliate-marketing channel rose 240% year over year. Article: MercadoLibre: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: A bullish investor view argues the recent selloff may make MELI attractive, emphasizing that users are buying more often and entrusting more money to Mercado Pago despite Brazil’s political jitters and a broader growth-stock pullback. Article: MercadoLibre Stock Looks Attractive Even as Brazil Fears Mount
• Negative Sentiment: Growth is pressuring profitability: shipping expenses and expansion investment are squeezing margins, even as logistics efficiency improves in Brazil. Q3 EPS of $8.83 also missed the $9.27 consensus estimate, tempering the strong revenue result. Article: MercadoLibre’s Growth Strategy Puts Profit Margins to the Test
• Negative Sentiment: JPMorgan cut its price target to $1,850 from $2,150 and kept a neutral rating. Reports also flagged target reductions from Scotiabank and BTIG, adding to pressure on investor expectations, although JPMorgan’s revised target remained above the cited share price. Article: JPMorgan price-target update

MercadoLibre Company Profile

MercadoLibre, Inc operates an online commerce and financial technology platform focused on Latin America. Founded in Argentina in 1999, the company connects buyers and sellers through its marketplace, where businesses and individuals can list and purchase a wide range of products.

The company’s services also include Mercado Pago, which offers digital payment and financial services for transactions on and off its marketplace. MercadoLibre supports commerce with services such as Mercado Envíos, its shipping and logistics platform, and provides advertising tools for merchants and brands.

MercadoLibre serves customers and businesses across numerous Latin American markets, including Brazil, Mexico and Argentina.