Goldstein Advisors LLC Purchases New Shares in MercadoLibre, Inc. (NASDAQ:MELI)

Goldstein Advisors LLC purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 108 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased 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 purchasing an additional 16 shares during the period. Optimum Investment Advisors increased its position in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. acquired a new stake in MercadoLibre in the second quarter worth about $36,000. Quarry LP acquired a new stake in MercadoLibre in the second quarter worth about $43,000. Finally, NBC Securities Inc. increased its position 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 during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,047.35 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a twelve month low of $1,162.73 and a twelve month high of $2,161.73. The company has a market cap of $103.80 billion, a P/E ratio of 73.99, a P/E/G ratio of 1.26 and a beta of 1.61. The business has a fifty day simple moving average of $2,047.08 and a 200 day simple moving average of $1,783.71.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business’s quarterly revenue was up 41.5% on a year-over-year basis. During the same period last year, the company earned $5.16 earnings per share. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price objective for the company. 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, October 22nd. JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a research report on Wednesday, October 2nd. Raymond James assumed coverage on MercadoLibre in a research report on Friday, September 27th. They set an “outperform” rating and a $2,350.00 target price for the company. Finally, StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Company 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.