Wesbanco Bank Inc. Sells 55 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Wesbanco Bank Inc. decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 27.1% during the first quarter, HoldingsChannel reports. The firm owned 148 shares of the company’s stock after selling 55 shares during the quarter. Wesbanco Bank Inc.’s holdings in MercadoLibre were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Human Investing LLC acquired a new position in MercadoLibre in the 4th quarter valued at $26,000. Park Square Financial Group LLC bought a new stake in MercadoLibre during the fourth quarter valued at about $26,000. Covestor Ltd acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $27,000. Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $32,000. Finally, Stonebridge Financial Group LLC bought a new position in shares of MercadoLibre in the fourth quarter worth about $37,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Down 2.1%

Shares of NASDAQ:MELI opened at $2,396.44 on Wednesday. The company’s fifty day moving average is $2,307.64 and its 200-day moving average is $2,068.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,635.88. The company has a market capitalization of $121.49 billion, a PE ratio of 63.57, a P/E/G ratio of 1.12 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company’s revenue for the quarter was up 37.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.78 earnings per share. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the subject of several recent analyst reports. UBS Group set a $3,000.00 target price on MercadoLibre in a research note on Monday, June 2nd. Barclays increased their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. Morgan Stanley reissued an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Finally, Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,613.75.

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.