Van ECK Associates Corp Sells 2,286 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Van ECK Associates Corp reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 9.9% during the third quarter, HoldingsChannel reports. The firm owned 20,782 shares of the company’s stock after selling 2,286 shares during the period. Van ECK Associates Corp’s holdings in MercadoLibre were worth $42,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. lifted its stake in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the period. Optimum Investment Advisors lifted its position in MercadoLibre by 750.0% during the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. purchased a new stake in MercadoLibre in the second quarter worth approximately $36,000. Quarry LP bought a new stake in MercadoLibre in the 2nd quarter worth approximately $43,000. Finally, NBC Securities Inc. raised its stake in MercadoLibre by 35.0% during the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Up 0.9 %

Shares of MercadoLibre stock opened at $2,054.90 on Monday. MercadoLibre, Inc. has a fifty-two week low of $1,310.31 and a fifty-two week high of $2,161.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The company has a market capitalization of $104.18 billion, a P/E ratio of 74.26, a P/E/G ratio of 1.24 and a beta of 1.61. The company has a fifty day moving average of $2,050.38 and a 200 day moving average of $1,807.21.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 43.52% and a net margin of 8.03%. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.16 earnings per share. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 37.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MELI shares. Citigroup raised their price target on MercadoLibre from $2,200.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Bank of America raised their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Barclays upped their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Raymond James initiated coverage on shares of 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, 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. Three equities research 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.