PNC Financial Services Group Inc. Increases Stake in MercadoLibre, Inc. $MELI

PNC Financial Services Group Inc. lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 96.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,011 shares of the company’s stock after purchasing an additional 4,424 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MercadoLibre were worth $18,150,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Larson Financial Group LLC raised its position in shares of MercadoLibre by 32.5% in the 4th quarter. Larson Financial Group LLC now owns 204 shares of the company’s stock valued at $411,000 after purchasing an additional 50 shares during the last quarter. AMF Tjanstepension AB raised its position in shares of MercadoLibre by 19.0% in the 4th quarter. AMF Tjanstepension AB now owns 134,513 shares of the company’s stock valued at $270,944,000 after purchasing an additional 21,451 shares during the last quarter. Profund Advisors LLC raised its position in shares of MercadoLibre by 8.9% in the 4th quarter. Profund Advisors LLC now owns 3,993 shares of the company’s stock valued at $8,043,000 after purchasing an additional 327 shares during the last quarter. ProShare Advisors LLC raised its position in shares of MercadoLibre by 42.7% in the 4th quarter. ProShare Advisors LLC now owns 79,658 shares of the company’s stock valued at $160,452,000 after purchasing an additional 23,844 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in shares of MercadoLibre by 2.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,337 shares of the company’s stock valued at $6,722,000 after purchasing an additional 74 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MELI opened at $1,664.42 on Friday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $84.39 billion, a PE ratio of 43.93, a P/E/G ratio of 1.03 and a beta of 1.41. The firm has a 50 day moving average of $1,721.55 and a two-hundred day moving average of $1,921.77.

MercadoLibre (NASDAQ:MELI) last posted 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 return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the prior year, the business posted $9.74 earnings per share. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MELI shares. Benchmark decreased their price objective on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research report on Friday, May 8th. UBS Group decreased their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and decreased their price objective for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research report on Friday, May 8th. Finally, Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

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.