MercadoLibre, Inc. (NASDAQ:MELI) Position Boosted by Traynor Capital Management Inc.

Traynor Capital Management Inc. lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 32.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 319 shares of the company’s stock after purchasing an additional 78 shares during the period. Traynor Capital Management Inc.’s holdings in MercadoLibre were worth $501,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MELI. Raymond James Trust N.A. bought a new position in shares of MercadoLibre during the first quarter worth about $236,000. Cibc World Market Inc. lifted its holdings in MercadoLibre by 6.1% in the first quarter. Cibc World Market Inc. now owns 659 shares of the company’s stock worth $784,000 after acquiring an additional 38 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in MercadoLibre by 8.6% in the first quarter. Dimensional Fund Advisors LP now owns 189 shares of the company’s stock worth $225,000 after acquiring an additional 15 shares during the last quarter. Blair William & Co. IL lifted its holdings in MercadoLibre by 10.1% in the first quarter. Blair William & Co. IL now owns 2,878 shares of the company’s stock worth $3,423,000 after acquiring an additional 264 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in MercadoLibre by 25.1% in the first quarter. Cetera Investment Advisers now owns 1,048 shares of the company’s stock worth $1,247,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded down $10.69 during mid-day trading on Friday, reaching $1,511.96. 262,030 shares of the company traded hands, compared to its average volume of 393,036. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The firm has a market cap of $76.66 billion, a PE ratio of 77.38, a price-to-earnings-growth ratio of 1.00 and a beta of 1.45. The stock has a fifty day simple moving average of $1,654.04 and a 200-day simple moving average of $1,508.43.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The company had revenue of $4.26 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the business earned $3.25 EPS. MercadoLibre’s revenue was up 42.0% compared to the same quarter last year. Equities research analysts anticipate that MercadoLibre, Inc. will post 36.06 EPS for the current fiscal year.

Analyst Ratings Changes

MELI has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Citigroup cut their target price on shares of MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating on the stock in a report on Wednesday. Wedbush reissued an “outperform” rating and issued a $2,000.00 target price on shares of MercadoLibre in a report on Tuesday, March 5th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Finally, Susquehanna raised their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,817.86.

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.