Bank of New York Mellon Corp Has $320.82 Million Position in MercadoLibre, Inc. $MELI

Bank of New York Mellon Corp lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.9% in the third quarter, HoldingsChannel.com reports. The institutional investor 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’s holdings in MercadoLibre were worth $320,821,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of MercadoLibre by 26.3% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after acquiring an additional 5 shares during the period. Quadcap Wealth Management LLC lifted its holdings in MercadoLibre by 4.2% during the 2nd quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock worth $324,000 after purchasing an additional 5 shares during the last quarter. PFW Advisors LLC lifted its holdings in MercadoLibre by 4.8% during the 3rd quarter. PFW Advisors LLC now owns 110 shares of the company’s stock worth $257,000 after purchasing an additional 5 shares during the last quarter. Yousif Capital Management LLC boosted its stake in 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 purchasing an additional 5 shares during the period. Finally, Natural Investments LLC increased its position 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. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wedbush reduced their target price on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a research report on Friday, December 19th. Morgan Stanley boosted their price objective on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. UBS Group lowered their target price on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a report on Monday, November 24th. Citigroup dropped their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research report on Thursday, October 9th. Finally, JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,876.88.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,218.14 on Friday. The firm’s 50 day simple moving average is $2,069.09 and its 200 day simple moving average is $2,219.71. The firm has a market capitalization of $112.46 billion, a price-to-earnings ratio of 54.13, a P/E/G ratio of 1.13 and a beta of 1.42. 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.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The business had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the company earned $7.83 earnings per share. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was 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 directly owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of MercadoLibre stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,136 shares of company stock worth $2,308,788 in the last ninety days. 0.25% of the stock is owned by insiders.

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.