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

Bank of New York Mellon Corp increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 0.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 121,637 shares of the company’s stock after acquiring an additional 1,051 shares during the period. Bank of New York Mellon Corp’s holdings in MercadoLibre were worth $317,913,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. raised its holdings in MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after acquiring an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after purchasing an additional 96,283 shares during the period. GQG Partners LLC grew its position in shares of MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after purchasing an additional 87,912 shares during the period. Jennison Associates LLC increased its stake in MercadoLibre by 7.0% in the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after purchasing an additional 81,124 shares during the last quarter. Finally, Nuveen LLC acquired a new position in MercadoLibre in the first quarter valued at $143,367,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.5%

Shares of NASDAQ:MELI opened at $2,305.69 on Wednesday. The stock has a 50-day simple moving average of $2,306.76 and a 200-day simple moving average of $2,377.66. The stock has a market capitalization of $116.89 billion, a P/E ratio of 56.26, a PEG ratio of 1.56 and a beta of 1.46. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. During the same quarter in the prior year, the firm earned $7.83 earnings per share. MercadoLibre’s quarterly revenue was up 39.5% compared to the same quarter last year. Equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on MELI. Citigroup decreased their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Wedbush increased their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $2,822.35.

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.