M&T Bank Corp Boosts Position in MercadoLibre, Inc. (NASDAQ:MELI)

M&T Bank Corp lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 71.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,563 shares of the company’s stock after purchasing an additional 2,316 shares during the quarter. M&T Bank Corp’s holdings in MercadoLibre were worth $8,743,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MELI. Turtle Creek Wealth Advisors LLC acquired a new position in MercadoLibre in the fourth quarter valued at approximately $28,000. Archer Investment Corp acquired a new stake in shares of MercadoLibre during the 4th quarter worth about $31,000. Larson Financial Group LLC purchased a new stake in MercadoLibre in the 4th quarter valued at about $36,000. Blue Trust Inc. raised its holdings in MercadoLibre by 56.3% in the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after buying an additional 9 shares during the period. Finally, Disciplined Equity Management Inc. purchased a new position in MercadoLibre during the fourth quarter worth about $42,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Barclays dropped their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Wedbush reissued an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a research note on Friday. Citigroup dropped their target price on MercadoLibre from $1,990.00 to $1,940.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,805.00.

MercadoLibre Price Performance

Shares of MELI opened at $1,630.56 on Monday. MercadoLibre, Inc. has a twelve month low of $1,063.02 and a twelve month high of $1,825.00. The firm’s fifty day simple moving average is $1,499.29 and its 200-day simple moving average is $1,542.15. The firm has a market capitalization of $82.67 billion, a price-to-earnings ratio of 72.96, a PEG ratio of 1.09 and a beta of 1.45. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.72.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 42.04%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period last year, the business earned $3.97 EPS. The company’s revenue was up 36.0% on a year-over-year basis. Equities analysts forecast that MercadoLibre, Inc. will post 34.46 EPS for the current fiscal year.

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.