NBT Bank N A NY Increases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

NBT Bank N A NY grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 15.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 135 shares of the company’s stock after acquiring an additional 18 shares during the quarter. NBT Bank N A NY’s holdings in MercadoLibre were worth $230,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MELI. Public Employees Retirement System of Ohio purchased a new position in shares of MercadoLibre in the third quarter worth approximately $114,417,000. Principal Financial Group Inc. boosted its holdings in shares of MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock worth $121,948,000 after buying an additional 10,272 shares during the last quarter. KBC Group NV boosted its holdings in shares of MercadoLibre by 205.5% in the third quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after buying an additional 17,677 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of MercadoLibre by 37.8% in the fourth quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after buying an additional 43,215 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of MercadoLibre by 11.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MELI. Cantor Fitzgerald raised their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Citigroup dropped their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a report on Tuesday, November 26th. Susquehanna raised their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. The Goldman Sachs Group lifted their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Finally, New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Trading Up 2.3 %

MELI stock opened at $1,990.11 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,374.54. The stock has a market capitalization of $100.89 billion, a price-to-earnings ratio of 52.79, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The firm’s fifty day simple moving average is $1,952.66 and its two-hundred day simple moving average is $1,969.27.

MercadoLibre (NASDAQ:MELI) last issued its earnings results 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. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. As a group, analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.