MercadoLibre, Inc. (NASDAQ:MELI) Stock Position Lifted by Good Life Advisors LLC

Good Life Advisors LLC boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 45.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 231 shares of the company’s stock after buying an additional 72 shares during the quarter. Good Life Advisors LLC’s holdings in MercadoLibre were worth $474,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. First PREMIER Bank acquired a new position in MercadoLibre in the first quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. grew its position in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after acquiring an additional 16 shares in the last quarter. Financial Connections Group Inc. acquired a new position in shares of MercadoLibre during the 2nd quarter worth $36,000. Quarry LP bought a new position in shares of MercadoLibre during the 2nd quarter valued at $43,000. Finally, NBC Securities Inc. lifted its stake in shares of MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays increased their target price on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Raymond James began coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group raised their target price on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $2,283.00.

MercadoLibre Trading Up 0.7 %

Shares of MercadoLibre stock opened at $2,079.79 on Friday. The company’s fifty day moving average price is $2,034.69 and its two-hundred day moving average price is $1,762.16. The firm has a market capitalization of $105.44 billion, a PE ratio of 93.06, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61. MercadoLibre, Inc. has a 52-week low of $1,141.04 and a 52-week 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.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.16 earnings per share. On average, analysts expect 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.