MercadoLibre, Inc. $MELI Shares Sold by Goodman Advisory Group LLC

Goodman Advisory Group LLC decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 88.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 258 shares of the company’s stock after selling 2,041 shares during the period. Goodman Advisory Group LLC’s holdings in MercadoLibre were worth $674,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of MELI. Jackson Wealth Management LLC purchased a new position in MercadoLibre in the second quarter worth $499,000. Highview Capital Management LLC DE acquired a new position in shares of MercadoLibre during the 2nd quarter worth $559,000. Ninety One North America Inc. grew its stake in shares of MercadoLibre by 21.5% during the 2nd quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after purchasing an additional 1,080 shares during the period. Resona Asset Management Co. Ltd. increased its holdings in shares of MercadoLibre by 4.0% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after purchasing an additional 585 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of MercadoLibre by 7.0% in the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on MELI shares. Morgan Stanley increased their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. BTIG Research restated a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Thursday, December 4th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Benchmark decreased their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, Barclays upped their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $2,848.82.

MercadoLibre Price Performance

MELI stock opened at $2,015.89 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17. The stock’s 50 day moving average price is $2,121.14 and its 200 day moving average price is $2,314.90. The firm has a market cap of $102.21 billion, a P/E ratio of 49.19, a PEG ratio of 1.45 and a beta of 1.42. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The company had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The business’s revenue was up 39.5% compared to the same quarter last year. During the same period last year, the firm earned $7.83 earnings per share. On average, sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Insider Activity

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the sale, the director directly owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.25% of the company’s stock.

MercadoLibre Profile

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.