MercadoLibre, Inc. $MELI Stock Sold by Traynor Capital Management Inc.

Traynor Capital Management Inc. decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 50.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 498 shares of the company’s stock after selling 504 shares during the quarter. Traynor Capital Management Inc.’s holdings in MercadoLibre were worth $861,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wedbush Fund Advisers LLC acquired a new position in shares of MercadoLibre during the second quarter worth approximately $29,000. Twin Lakes Capital Management LLC bought a new stake in shares of MercadoLibre in the second quarter valued at approximately $31,000. NBT Bank N.A. acquired a new stake in shares of MercadoLibre in the third quarter worth $35,000. Markowski Investments acquired a new stake in shares of MercadoLibre in the second quarter worth $36,000. Finally, Byrne Asset Management LLC acquired a new stake in shares of MercadoLibre in the third quarter worth $40,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI opened at $1,676.79 on Tuesday. The stock has a market cap of $85.01 billion, a PE ratio of 45.60, a P/E/G 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. The stock’s 50 day simple moving average is $1,835.73 and its 200-day simple moving average is $1,813.90.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on MELI. BTIG Research reissued a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Tuesday, October 27th. New Street Research initiated coverage on shares of MercadoLibre in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 price target on the stock. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Citigroup upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $2,100.00 to $2,050.00 in a report on Tuesday, October 27th. Finally, Susquehanna upped their price objective on shares of MercadoLibre to $2,400.00 and gave the company a “positive” rating in a research report on Tuesday, October 6th. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,248.75.

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.