MercadoLibre, Inc. $MELI Position Reduced by Comerica Bank

Comerica Bank trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 18.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,158 shares of the company’s stock after selling 494 shares during the period. Comerica Bank’s holdings in MercadoLibre were worth $4,347,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Yousif Capital Management LLC grew its holdings in shares of MercadoLibre by 3.5% during the third quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock valued at $344,000 after buying an additional 5 shares in the last quarter. Wilkinson Global Asset Management LLC lifted its stake in MercadoLibre by 2.3% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock worth $528,000 after acquiring an additional 5 shares in the last quarter. Hardy Reed LLC lifted its position in shares of MercadoLibre by 4.0% in the third quarter. Hardy Reed LLC now owns 131 shares of the company’s stock worth $306,000 after purchasing an additional 5 shares in the last quarter. Rothschild Investment LLC boosted its holdings in shares of MercadoLibre by 35.7% during the third quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC boosted its holdings in shares of MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 3.2%

Shares of MercadoLibre stock opened at $1,850.05 on Friday. MercadoLibre, Inc. has a 1 year low of $1,593.21 and a 1 year high of $2,645.22. The company’s fifty day simple moving average is $1,760.90 and its 200-day simple moving average is $1,972.77. The company has a market cap of $93.80 billion, a price-to-earnings ratio of 46.96, a PEG ratio of 0.92 and a beta of 1.41. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Saturday, February 14th. The company reported $11.03 earnings per share (EPS) for the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The company had revenue of $8.76 billion for the quarter. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 48.79 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. UBS Group dropped their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a report on Friday, February 27th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and cut their price target for the company from $2,650.00 to $2,100.00 in a report on Thursday, March 12th. Cantor Fitzgerald cut their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Finally, Barclays decreased their price target on MercadoLibre from $2,600.00 to $2,500.00 and set an “overweight” rating for the company in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,685.33.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.