Bank of New York Mellon Corp acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 112,085 shares of the company's stock, valued at approximately $190,252,000. Bank of New York Mellon Corp owned approximately 0.22% of MercadoLibre at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Prospect Financial Services LLC purchased a new position in MercadoLibre in the second quarter worth $749,000. ABN AMRO Bank N.V. purchased a new position in shares of MercadoLibre in the 2nd quarter worth about $1,094,000. S&CO Inc. bought a new position in MercadoLibre during the second quarter valued at about $1,527,000. GSA Capital Partners LLP purchased a new position in MercadoLibre in the second quarter valued at about $740,000. Finally, Avalon Trust Co purchased a new position in MercadoLibre in the second quarter valued at about $71,000. 87.62% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on MELI shares. Scotiabank reduced their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a "sector outperform" rating for the company in a research report on Thursday, May 7th. Benchmark lowered their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a report on Friday, May 8th. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research note on Friday, May 8th. Citigroup increased their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Finally, Cantor Fitzgerald raised their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $2,272.00.
Read Our Latest Research Report on MELI
MercadoLibre Stock Performance
NASDAQ MELI opened at $1,922.73 on Friday. The firm has a market cap of $97.48 billion, a P/E ratio of 52.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The company's 50 day moving average is $1,793.05 and its 200-day moving average is $1,775.94. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50.
MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same period last year, the firm earned $10.31 EPS. MercadoLibre's revenue for the quarter was up 49.8% on a year-over-year basis. Sell-side analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.
MercadoLibre Company Profile
(
Free Report)
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
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