Bank of New York Mellon Corp Buys 15,646 Shares of MercadoLibre, Inc. $MELI

Bank of New York Mellon Corp raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 12.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 137,283 shares of the company’s stock after buying an additional 15,646 shares during the quarter. Bank of New York Mellon Corp owned 0.27% of MercadoLibre worth $320,821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. E Fund Management Hong Kong Co. Ltd. grew its holdings in MercadoLibre by 26.3% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock valued at $63,000 after purchasing an additional 5 shares during the period. Quadcap Wealth Management LLC grew its holdings in shares of MercadoLibre by 4.2% in the 2nd quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock valued at $324,000 after buying an additional 5 shares during the period. PFW Advisors LLC increased its position in shares of MercadoLibre by 4.8% in the 3rd quarter. PFW Advisors LLC now owns 110 shares of the company’s stock valued at $257,000 after buying an additional 5 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of MercadoLibre by 3.5% in the 3rd quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock valued at $344,000 after buying an additional 5 shares in the last quarter. Finally, Natural Investments LLC raised its stake in MercadoLibre by 0.5% during the 3rd quarter. Natural Investments LLC now owns 1,119 shares of the company’s stock worth $2,613,000 after buying an additional 6 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total transaction of $1,713,778.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the completion of the sale, the director owned 257 shares of the company’s stock, valued at approximately $521,034.09. This represents a 14.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,136 shares of company stock worth $2,308,788. Insiders own 0.25% of the company’s stock.

MercadoLibre Stock Down 2.2%

Shares of MELI stock opened at $2,218.14 on Friday. The firm’s fifty day moving average price is $2,069.09 and its two-hundred day moving average price is $2,219.71. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. MercadoLibre, Inc. has a 1 year low of $1,723.90 and a 1 year high of $2,645.22. The firm has a market capitalization of $112.46 billion, a P/E ratio of 54.13, a PEG ratio of 1.13 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The company’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.83 earnings per share. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Barclays boosted their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Benchmark lowered their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 1st. Finally, Cantor Fitzgerald lowered their price objective on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,876.88.

MercadoLibre Company Profile

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.