Keybank National Association OH Has $2.44 Million Stock Position in MercadoLibre, Inc. $MELI

Keybank National Association OH cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 23.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,409 shares of the company’s stock after selling 428 shares during the period. Keybank National Association OH’s holdings in MercadoLibre were worth $2,436,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Capital Research Global Investors lifted its position in shares of MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock worth $4,481,812,000 after buying an additional 408,939 shares during the last quarter. Assenagon Asset Management S.A. grew its position in MercadoLibre by 803.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock valued at $671,665,000 after acquiring an additional 296,543 shares during the last quarter. Norges Bank acquired a new position in MercadoLibre during the fourth quarter worth about $597,045,000. Marshall Wace LLP raised its stake in MercadoLibre by 184.8% during the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock worth $628,083,000 after acquiring an additional 202,322 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in shares of MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after acquiring an additional 164,120 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MELI. Scotiabank reduced their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. BTIG Research reissued a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Tuesday, June 2nd. Citigroup lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating and cut their target price for the company from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Finally, JPMorgan Chase & Co. lowered their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,763.36 on Monday. The stock has a market cap of $89.40 billion, a P/E ratio of 46.54, a price-to-earnings-growth ratio of 1.09 and a beta of 1.35. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average is $1,674.97 and its 200-day moving average is $1,831.70. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter last year, the business earned $9.74 EPS. The firm’s quarterly revenue was up 49.0% compared to the same quarter last year. Equities research analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.26% of the company’s stock.

About MercadoLibre

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.