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

Joel Isaacson & Co. LLC cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 392 shares of the company’s stock after selling 100 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in MercadoLibre were worth $804,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the last quarter. Optimum Investment Advisors grew its position in MercadoLibre by 750.0% during the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after acquiring an additional 15 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in MercadoLibre during the 2nd quarter valued at $36,000. Quarry LP acquired a new stake in MercadoLibre during the 2nd quarter valued at $43,000. Finally, NBC Securities Inc. boosted its stake in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MELI. Redburn Atlantic began coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 target price for the company. Morgan Stanley upped their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Citigroup lifted their price objective on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and set a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, October 7th. Finally, Raymond James initiated coverage on shares of MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Stock Down 0.4 %

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

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period last year, the company posted $5.16 EPS. As a group, equities analysts predict that MercadoLibre, Inc. will post 37.55 EPS 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.