M&T Bank Corp Buys 2,316 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

M&T Bank Corp lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 71.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,563 shares of the company’s stock after purchasing an additional 2,316 shares during the quarter. M&T Bank Corp’s holdings in MercadoLibre were worth $8,743,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. WCM Investment Management LLC lifted its position in MercadoLibre by 74.8% in the 4th quarter. WCM Investment Management LLC now owns 1,162,724 shares of the company’s stock valued at $1,838,964,000 after acquiring an additional 497,535 shares in the last quarter. Morgan Stanley lifted its position in MercadoLibre by 10.2% in the 3rd quarter. Morgan Stanley now owns 2,558,467 shares of the company’s stock valued at $3,243,832,000 after acquiring an additional 236,744 shares in the last quarter. International Assets Investment Management LLC lifted its position in MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after acquiring an additional 146,034 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in MercadoLibre by 108.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 195,919 shares of the company’s stock valued at $248,475,000 after acquiring an additional 101,757 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd lifted its position in MercadoLibre by 39.3% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 205,105 shares of the company’s stock valued at $322,331,000 after acquiring an additional 57,837 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MELI has been the topic of several analyst reports. Barclays lowered their price objective on MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Susquehanna increased their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a report on Friday, February 23rd. UBS Group lowered their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. DZ Bank raised MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a report on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. increased their price target on MercadoLibre from $2,000.00 to $2,150.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,805.00.

MercadoLibre Trading Up 8.3 %

Shares of MELI stock opened at $1,630.56 on Monday. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.24 and a current ratio of 1.27. The firm has a market capitalization of $82.67 billion, a PE ratio of 72.96, a PEG ratio of 1.09 and a beta of 1.45. The stock has a fifty day simple moving average of $1,499.29 and a two-hundred day simple moving average of $1,542.15.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, beating analysts’ consensus estimates of $6.64 by $0.14. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.84 billion. MercadoLibre had a return on equity of 42.04% and a net margin of 7.17%. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.97 earnings per share. On average, analysts predict that MercadoLibre, Inc. will post 34.46 EPS for the current fiscal 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.