UMB Bank n.a. Increases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

UMB Bank n.a. raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 16.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 337 shares of the company’s stock after buying an additional 48 shares during the period. UMB Bank n.a.’s holdings in MercadoLibre were worth $657,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. 1620 Investment Advisors Inc. increased its holdings in MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after buying an additional 5 shares during the last quarter. Texas Yale Capital Corp. raised its stake in shares of MercadoLibre by 0.3% in the fourth quarter. Texas Yale Capital Corp. now owns 1,634 shares of the company’s stock worth $2,779,000 after buying an additional 5 shares during the period. Meiji Yasuda Life Insurance Co increased its stake in shares of MercadoLibre by 0.5% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock worth $1,699,000 after purchasing an additional 5 shares in the last quarter. Formidable Asset Management LLC increased its stake in shares of MercadoLibre by 3.2% in the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock worth $272,000 after purchasing an additional 5 shares in the last quarter. Finally, Revolve Wealth Partners LLC increased its stake in shares of MercadoLibre by 4.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock worth $201,000 after purchasing an additional 5 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Benchmark cut shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. Bank of America increased their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. Finally, Susquehanna raised their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,613.75.

MercadoLibre Price Performance

MELI stock opened at $2,448.60 on Tuesday. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,635.88. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a fifty day simple moving average of $2,298.62 and a two-hundred day simple moving average of $2,066.22. The firm has a market capitalization of $124.14 billion, a P/E ratio of 64.95, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the business earned $6.78 earnings per share. MercadoLibre’s quarterly revenue was up 37.0% compared to the same quarter last year. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre 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.