Hennion & Walsh Asset Management Inc. Lowers Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Hennion & Walsh Asset Management Inc. lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 38.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 558 shares of the company’s stock after selling 344 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in MercadoLibre were worth $1,145,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. O Dell Group LLC increased its holdings in MercadoLibre by 2.1% during the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after purchasing an additional 6 shares during the last quarter. Belpointe Asset Management LLC increased its stake in shares of MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after buying an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after acquiring an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC boosted its stake in MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after acquiring an additional 6 shares during the last quarter. Finally, Hilltop National Bank grew its holdings in MercadoLibre by 14.3% during the 2nd quarter. Hilltop National Bank now owns 56 shares of the company’s stock worth $92,000 after acquiring an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MELI shares. Susquehanna increased their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Morgan Stanley lifted their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Bank of America upped their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Citigroup lifted their price objective on shares of MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, 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 report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,301.67.

MercadoLibre Stock Performance

MELI opened at $2,047.35 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $2,047.08 and its 200-day moving average is $1,781.70. The stock has a market cap of $103.80 billion, a PE ratio of 73.99, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. MercadoLibre, Inc. has a twelve month low of $1,162.73 and a twelve month high of $2,161.73.

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

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.