Comerica Bank Buys 262 Shares of MercadoLibre, Inc. $MELI

Key Points

• Comerica Bank increased its holdings in MercadoLibre, Inc. by 10.9%, acquiring an additional 262 shares during the first quarter, bringing its total to 2,660 shares worth $5,189,000.
• MercadoLibre's recent earnings report showed it achieved a revenue of $6.79 billion in the quarter, surpassing estimates, though earnings per share missed consensus expectations.
• Wall Street analysts have a consensus price target of $2,817.22 for MercadoLibre, with ratings ranging from "buy" to "strong buy" from various brokerages.

Comerica Bank increased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,660 shares of the company's stock after purchasing an additional 262 shares during the period. Comerica Bank's holdings in MercadoLibre were worth $5,189,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Key Financial Inc bought a new position in MercadoLibre in the first quarter valued at about $25,000. GW&K Investment Management LLC bought a new position in MercadoLibre in the first quarter valued at about $25,000. Park Square Financial Group LLC bought a new position in MercadoLibre in the fourth quarter valued at about $26,000. Close Asset Management Ltd grew its position in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after acquiring an additional 13 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on MELI. Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Barclays cut their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an "outperform" rating in a research note on Tuesday, August 5th. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Stock Up 0.0%

MercadoLibre stock traded up $0.62 during trading on Friday, hitting $2,472.91. 292,481 shares of the company were exchanged, compared to its average volume of 386,617. The company has a market capitalization of $125.38 billion, a P/E ratio of 61.07, a PEG ratio of 1.61 and a beta of 1.49. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The business's 50 day moving average is $2,413.70 and its 200 day moving average is $2,290.26.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm's quarterly revenue was up 33.8% on a year-over-year basis. During the same period in the prior year, the company earned $10.48 EPS. Analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.