Bank of Hawaii Decreases Stock Holdings in MercadoLibre, Inc. $MELI

Bank of Hawaii reduced its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 395 shares of the company’s stock after selling 6 shares during the period. Bank of Hawaii’s holdings in MercadoLibre were worth $771,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Banco Santander S.A. lifted its holdings in shares of MercadoLibre by 221.9% in the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after acquiring an additional 1,893 shares during the last quarter. Prospect Financial Services LLC raised its position in MercadoLibre by 41.7% during the first quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after purchasing an additional 100 shares during the period. Stratos Investment Management LLC bought a new stake in shares of MercadoLibre in the 1st quarter valued at approximately $203,000. JARISLOWSKY FRASER Ltd boosted its holdings in shares of MercadoLibre by 43.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock worth $5,525,000 after purchasing an additional 987 shares during the period. Finally, Avant Financial Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth approximately $316,000. 87.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on MELI shares. Wedbush set a $2,700.00 price target on MercadoLibre and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Barclays cut their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Finally, Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research note on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $2,817.22.

MercadoLibre Trading Up 4.0%

Shares of MELI opened at $2,430.62 on Monday. The firm has a market capitalization of $123.23 billion, a price-to-earnings ratio of 60.03, a PEG ratio of 1.58 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a 50-day moving average of $2,411.33 and a 200 day moving average of $2,277.73.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. During the same period last year, the business posted $10.48 earnings per share. The business’s revenue was up 33.8% compared to the same quarter last year. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS 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.