Bank of New York Mellon Corp Raises Stock Holdings in MercadoLibre, Inc. $MELI

Bank of New York Mellon Corp lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 0.5% during the first quarter, HoldingsChannel.com reports. The fund owned 108,051 shares of the company’s stock after purchasing an additional 539 shares during the quarter. Bank of New York Mellon Corp’s holdings in MercadoLibre were worth $186,822,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. boosted its stake in MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after purchasing an additional 164,120 shares during the period. Capital Research Global Investors grew its holdings in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the last quarter. Capital International Investors grew its holdings in shares of MercadoLibre by 7.3% during the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after buying an additional 118,018 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after acquiring an additional 137,100 shares during the period. Finally, Janus Henderson Group PLC increased its position in MercadoLibre by 26.4% in the 4th quarter. Janus Henderson Group PLC now owns 604,096 shares of the company’s stock valued at $1,216,807,000 after acquiring an additional 126,294 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MELI shares. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research report on Friday, May 8th. Scotiabank dropped their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a report on Thursday, May 7th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,258.67.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,813.91 on Friday. The firm has a market capitalization of $91.97 billion, a P/E ratio of 47.87, a PEG ratio of 1.12 and a beta of 1.35. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company’s fifty day moving average is $1,681.90 and its two-hundred day moving average is $1,822.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

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

Insider Buying and Selling

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction on Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

About MercadoLibre

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.