MercadoLibre, Inc. $MELI Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 0.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,051 shares of the company’s stock after purchasing an additional 539 shares during the quarter. Bank of New York Mellon Corp owned 0.21% of MercadoLibre worth $186,822,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MELI. Illinois Municipal Retirement Fund raised its stake in shares of MercadoLibre by 9.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 6,095 shares of the company’s stock valued at $10,538,000 after acquiring an additional 532 shares during the period. Journey Advisory Group LLC purchased a new position in shares of MercadoLibre during the 1st quarter worth approximately $2,422,000. MASTERINVEST Kapitalanlage GmbH raised its position in MercadoLibre by 15.9% in the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 1,847 shares of the company’s stock valued at $3,194,000 after purchasing an additional 253 shares during the period. Roberts Glore & Co. Inc. IL lifted its stake in MercadoLibre by 13.6% during the first quarter. Roberts Glore & Co. Inc. IL now owns 959 shares of the company’s stock worth $1,658,000 after purchasing an additional 115 shares in the last quarter. Finally, Nwam LLC lifted its stake in MercadoLibre by 1.6% during the first quarter. Nwam LLC now owns 1,626 shares of the company’s stock worth $2,811,000 after purchasing an additional 26 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MELI shares. Citigroup boosted 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. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a report on Wednesday, May 13th. Cantor Fitzgerald dropped their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a research report on Friday, May 8th. Finally, Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,258.67.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $1,813.91 on Friday. The company has a market cap of $91.97 billion, a P/E ratio of 47.87, a PEG ratio of 1.12 and a beta of 1.35. The firm has a fifty day moving average price of $1,681.90 and a 200 day moving average price of $1,822.69. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’s quarterly revenue was up 49.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $9.74 earnings per share. Sell-side analysts predict that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

MercadoLibre 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.