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

Goodman Advisory Group LLC cut its position in MercadoLibre, Inc. (NASDAQ:MELI) by 88.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on MELI. Morgan Stanley increased their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Finally, Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average price target of $2,848.82.

MercadoLibre Stock Down 0.2%

MELI stock opened at $2,015.89 on Friday. The company has a market cap of $102.21 billion, a price-to-earnings ratio of 49.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42. The company has a fifty day moving average price of $2,121.14 and a 200 day moving average price of $2,314.90. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the previous year, the business posted $7.83 earnings per share. The company’s revenue for the quarter was up 39.5% on a year-over-year basis. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Insider Activity

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total transaction of $503,778.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Emiliano Calemzuk sold 45 shares of MercadoLibre stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the transaction, the director owned 257 shares in the company, valued at $521,034.09. This trade represents a 14.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.25% of the company’s stock.

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.