MercadoLibre, Inc. (NASDAQ:MELI) Holdings Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,586 shares of the company's stock after purchasing an additional 4,307 shares during the quarter. Bank of New York Mellon Corp owned 0.24% of MercadoLibre worth $235,247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. 1620 Investment Advisors Inc. lifted its stake in shares of MercadoLibre by 2.5% in the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company's stock worth $346,000 after acquiring an additional 5 shares in the last quarter. Texas Yale Capital Corp. increased its holdings in MercadoLibre by 0.3% during the 4th quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company's stock worth $2,779,000 after purchasing an additional 5 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its position in shares of MercadoLibre by 0.5% in the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock valued at $1,699,000 after purchasing an additional 5 shares in the last quarter. Formidable Asset Management LLC boosted its stake in shares of MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock valued at $272,000 after buying an additional 5 shares during the last quarter. Finally, Revolve Wealth Partners LLC boosted its stake in shares of MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after buying an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Barclays upped their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a report on Thursday, May 1st. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has an average rating of "Moderate Buy" and an average target price of $2,645.94.

MercadoLibre Price Performance

MELI traded down $24.48 during trading on Tuesday, reaching $2,476.60. The stock had a trading volume of 224,809 shares, compared to its average volume of 388,060. The stock has a 50 day moving average of $2,474.90 and a two-hundred day moving average of $2,144.63. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $125.56 billion, a price-to-earnings ratio of 60.91, a price-to-earnings-growth ratio of 1.49 and a beta of 1.49. MercadoLibre, Inc. has a 1-year low of $1,579.78 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the prior year, the firm posted $6.78 earnings per share. The company's revenue was up 37.0% on a year-over-year basis. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.