Joel Isaacson & Co. LLC Grows Stock Holdings in MercadoLibre, Inc. $MELI

Joel Isaacson & Co. LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 427 shares of the company’s stock after purchasing an additional 35 shares during the period. Joel Isaacson & Co. LLC’s holdings in MercadoLibre were worth $1,116,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ninety One North America Inc. lifted its holdings in shares of MercadoLibre by 21.5% during the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after purchasing an additional 1,080 shares during the last quarter. Banco Santander S.A. lifted its holdings in shares of MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after purchasing an additional 1,893 shares during the last quarter. Stratos Investment Management LLC purchased a new position in shares of MercadoLibre during the first quarter valued at approximately $203,000. Bosman Wealth Management LLC lifted its holdings in shares of MercadoLibre by 88.5% during the second quarter. Bosman Wealth Management LLC now owns 1,001 shares of the company’s stock valued at $2,616,000 after purchasing an additional 470 shares during the last quarter. Finally, Ground Swell Capital LLC purchased a new position in shares of MercadoLibre during the first quarter valued at approximately $439,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 1.5%

NASDAQ:MELI opened at $2,187.57 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a market cap of $110.91 billion, a PE ratio of 54.03, a price-to-earnings-growth ratio of 1.43 and a beta of 1.46. The company has a 50 day simple moving average of $2,374.35 and a two-hundred day simple moving average of $2,344.79.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same period last year, the firm posted $10.48 EPS. The company’s revenue for the quarter was up 33.8% on a year-over-year basis. Research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald raised their price target on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Weiss Ratings reissued a “buy (b)” rating on shares of MercadoLibre in a research report on Saturday, September 27th. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target for the company. Scotiabank assumed coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target for the company. Finally, Susquehanna reissued a “positive” rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,822.78.

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.