Comerica Bank decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 44.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 252 shares of the company’s stock after selling 205 shares during the period. Comerica Bank’s holdings in MercadoLibre were worth $272,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Retirement Planning Co of New England Inc. acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $26,000. Masso Torrence Wealth Management Inc. acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $31,000. UMB Bank N A MO lifted its stake in shares of MercadoLibre by 550.0% in the first quarter. UMB Bank N A MO now owns 26 shares of the company’s stock valued at $31,000 after purchasing an additional 22 shares during the period. CVA Family Office LLC acquired a new stake in shares of MercadoLibre in the first quarter valued at about $32,000. Finally, Corsicana & Co. acquired a new stake in shares of MercadoLibre in the first quarter valued at about $36,000. Institutional investors and hedge funds own 79.61% of the company’s stock.
Analyst Upgrades and Downgrades
MELI has been the subject of several recent research reports. StockNews.com downgraded shares of MercadoLibre from a “hold” rating to a “sell” rating in a report on Friday, June 24th. KGI Securities initiated coverage on shares of MercadoLibre in a report on Monday, June 6th. They set an “outperform” rating for the company. TheStreet upgraded shares of MercadoLibre from a “d+” rating to a “c-” rating in a report on Friday, May 6th. Citigroup dropped their target price on shares of MercadoLibre from $1,500.00 to $1,150.00 and set a “buy” rating for the company in a report on Thursday, June 9th. Finally, Stifel Nicolaus lowered their price target on shares of MercadoLibre from $1,200.00 to $1,000.00 in a report on Friday, July 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,484.00.
MercadoLibre Price Performance
MercadoLibre (NASDAQ:MELI – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.36). The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.06 billion. MercadoLibre had a net margin of 2.30% and a return on equity of 21.93%. The company’s quarterly revenue was up 63.1% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. Sell-side analysts predict that MercadoLibre, Inc. will post 6.03 earnings per share for the current year.
MercadoLibre Company Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; and Mercado Pago FinTech, 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.
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