MercadoLibre, Inc. $MELI Stock Holdings Trimmed by Goldstein Advisors LLC

Goldstein Advisors LLC lowered its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179 shares of the company’s stock after selling 5 shares during the period. Goldstein Advisors LLC’s holdings in MercadoLibre were worth $468,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Ninety One North America Inc. raised its stake in MercadoLibre by 21.5% during the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after acquiring an additional 1,080 shares in the last quarter. Banco Santander S.A. raised its stake in MercadoLibre by 221.9% during the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after acquiring an additional 1,893 shares in the last quarter. Stratos Investment Management LLC bought a new stake in MercadoLibre during the 1st quarter valued at $203,000. Costello Asset Management INC raised its stake in MercadoLibre by 434.3% during the 2nd quarter. Costello Asset Management INC now owns 577 shares of the company’s stock valued at $1,509,000 after acquiring an additional 469 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in MercadoLibre by 8.5% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company’s stock valued at $5,899,000 after acquiring an additional 177 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $2,024.98 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $102.67 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 1.37 and a beta of 1.46. The stock’s fifty day simple moving average is $2,336.31 and its 200 day simple moving average is $2,349.61. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.48 earnings per share. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Susquehanna dropped their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research note on Friday, October 3rd. Daiwa Capital Markets assumed coverage on MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of MercadoLibre in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald boosted their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,810.88.

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.