Bank of New York Mellon Corp Cuts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Bank of New York Mellon Corp reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,279 shares of the company’s stock after selling 6,070 shares during the quarter. Bank of New York Mellon Corp owned 0.23% of MercadoLibre worth $197,726,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MELI. Strategic Financial Concepts LLC boosted its position in MercadoLibre by 169,952.3% during the 4th quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company’s stock valued at $309,405,000 after buying an additional 181,849 shares during the period. FMR LLC raised its position in MercadoLibre by 18.6% during the 3rd quarter. FMR LLC now owns 878,996 shares of the company’s stock valued at $1,803,665,000 after purchasing an additional 137,564 shares during the last quarter. Wellington Management Group LLP grew its position in shares of MercadoLibre by 52.9% in the 3rd quarter. Wellington Management Group LLP now owns 349,678 shares of the company’s stock worth $717,525,000 after buying an additional 120,922 shares during the last quarter. Swedbank AB raised its holdings in shares of MercadoLibre by 352.8% during the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after acquiring an additional 73,336 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in MercadoLibre by 3.9% in the third quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock worth $3,845,207,000 after acquiring an additional 70,154 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

MELI has been the topic of a number of research reports. Susquehanna lifted their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research note on Friday, February 21st. Cantor Fitzgerald upped their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their target price for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Bank of America lifted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Citigroup decreased their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $2,385.94.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,129.80 on Friday. The business’s fifty day moving average is $1,901.92 and its 200 day moving average is $1,965.30. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $107.97 billion, a PE ratio of 56.49, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $5.94 billion. Sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

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.