PNC Financial Services Group Inc. Acquires 1,418 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

PNC Financial Services Group Inc. raised its holdings in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 21.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,937 shares of the company’s stock after acquiring an additional 1,418 shares during the period. PNC Financial Services Group Inc.’s holdings in MercadoLibre were worth $12,473,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new position in MercadoLibre during the 4th quarter worth approximately $28,000. Archer Investment Corp acquired a new position in shares of MercadoLibre during the fourth quarter worth $31,000. NBC Securities Inc. bought a new position in shares of MercadoLibre in the 3rd quarter valued at $35,000. Larson Financial Group LLC bought a new position in shares of MercadoLibre in the 4th quarter valued at $36,000. Finally, Blue Trust Inc. boosted its holdings in shares of MercadoLibre by 56.3% during the 4th quarter. Blue Trust Inc. now owns 25 shares of the company’s stock valued at $39,000 after acquiring an additional 9 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 2.0 %

MELI stock opened at $1,736.78 on Thursday. The stock has a market cap of $88.05 billion, a P/E ratio of 77.71, a P/E/G ratio of 1.29 and a beta of 1.45. The company has a current ratio of 1.27, a quick ratio of 1.25 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $1,539.48 and its two-hundred day simple moving average is $1,583.96. MercadoLibre, Inc. has a 1-year low of $1,063.02 and a 1-year high of $1,825.00.

MercadoLibre (NASDAQ:MELIGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating the consensus estimate of $6.64 by $0.14. The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The firm’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.97 earnings per share. Analysts expect that MercadoLibre, Inc. will post 33.81 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Susquehanna boosted their target price on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective on the stock in a research note on Tuesday, April 23rd. UBS Group lowered their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and increased their price target for the stock from $1,400.00 to $2,100.00 in a report on Monday. Finally, StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,881.92.

Get Our Latest Research Report on MercadoLibre

About MercadoLibre

(Free Report)

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.

See Also

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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