Keybank National Association OH Sells 428 Shares of MercadoLibre, Inc. $MELI

Keybank National Association OH decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,409 shares of the company’s stock after selling 428 shares during the quarter. Keybank National Association OH’s holdings in MercadoLibre were worth $2,436,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new position in MercadoLibre in the 2nd quarter valued at about $29,000. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth approximately $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre during the fourth quarter worth approximately $28,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of MercadoLibre in the third quarter valued at approximately $35,000. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MELI. BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research note on Tuesday, June 2nd. Zacks Research lowered MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and dropped their target price for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. Daiwa Securities Group downgraded 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 note on Friday, May 8th. Finally, Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,763.36 on Monday. The stock’s fifty day moving average price is $1,674.97 and its two-hundred day moving average price is $1,831.70. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The firm has a market cap of $89.40 billion, a PE ratio of 46.54, a price-to-earnings-growth ratio of 1.09 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). The company 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%. MercadoLibre’s revenue was up 49.0% on a year-over-year basis. During the same period in the prior year, the firm earned $9.74 earnings per share. As a group, research analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

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.