US Bancorp DE Boosts Stock Position in MercadoLibre, Inc. $MELI

US Bancorp DE raised its stake in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 1.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 35,784 shares of the company’s stock after buying an additional 575 shares during the quarter. US Bancorp DE’s holdings in MercadoLibre were worth $72,078,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Weitz Investment Management Inc. acquired a new position in MercadoLibre during the 3rd quarter valued at approximately $8,647,000. Barlow Wealth Partners Inc. increased its stake in MercadoLibre by 126.7% during the 3rd quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock valued at $26,886,000 after purchasing an additional 6,429 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in MercadoLibre by 14.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock valued at $202,610,000 after purchasing an additional 10,849 shares in the last quarter. Principal Financial Group Inc. increased its stake in MercadoLibre by 18.7% during the 3rd quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock valued at $112,414,000 after purchasing an additional 7,570 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in MercadoLibre by 5.5% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,560 shares of the company’s stock valued at $27,015,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of recent analyst reports. BTIG Research restated a “buy” rating and set a $2,400.00 price target on shares of MercadoLibre in a research note on Friday, April 10th. Barclays cut their price target on shares of MercadoLibre from $2,600.00 to $2,500.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Morgan Stanley cut their price target on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a research note on Monday, March 9th. Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. Finally, JPMorgan Chase & Co. lowered shares of MercadoLibre from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,685.33.

Read Our Latest Research Report on MELI

MercadoLibre News Summary

Here are the key news stories impacting MercadoLibre this week:

MercadoLibre Stock Up 1.4%

NASDAQ:MELI opened at $1,792.63 on Friday. The firm has a market capitalization of $90.88 billion, a P/E ratio of 45.50, a PEG ratio of 0.85 and a beta of 1.49. 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 moving average price is $1,760.90 and its 200-day moving average price is $1,974.18. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its quarterly earnings data on Saturday, February 14th. The company reported $11.03 earnings per share for the quarter. The firm had revenue of $8.76 billion for the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 50.05 EPS for the current year.

About MercadoLibre

(Free Report)

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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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