MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Comerica Bank

Comerica Bank increased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,398 shares of the company's stock after purchasing an additional 439 shares during the quarter. Comerica Bank's holdings in MercadoLibre were worth $4,078,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Human Investing LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at $26,000. Pacific Capital Wealth Advisors Inc. increased its holdings in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. raised its position in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company's stock valued at $27,000 after purchasing an additional 8 shares during the last quarter. Covestor Ltd purchased a new stake in MercadoLibre during the 4th quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC acquired a new position in MercadoLibre during the 4th quarter valued at approximately $32,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ MELI traded up $42.53 during mid-day trading on Friday, reaching $2,452.53. The company's stock had a trading volume of 382,692 shares, compared to its average volume of 381,235. The stock has a 50-day moving average of $2,081.98 and a two-hundred day moving average of $1,982.03. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market capitalization of $124.34 billion, a P/E ratio of 65.05, a P/E/G ratio of 1.12 and a beta of 1.61. MercadoLibre, Inc. has a 1-year low of $1,550.00 and a 1-year high of $2,501.00.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business's revenue was up 37.0% on a year-over-year basis. During the same period last year, the company posted $6.78 EPS. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Cantor Fitzgerald cut their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Susquehanna raised their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. StockNews.com upgraded shares of MercadoLibre from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and raised their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and an average price target of $2,504.67.

MercadoLibre 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.