PNC Financial Services Group Inc. Boosts Stock Holdings in MercadoLibre, Inc. $MELI

PNC Financial Services Group Inc. grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 96.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,011 shares of the company’s stock after purchasing an additional 4,424 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MercadoLibre were worth $18,150,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at approximately $26,000. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre during the 2nd quarter valued at approximately $29,000. Holos Integrated Wealth LLC purchased a new position in shares of MercadoLibre during the 4th quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of MercadoLibre during the 3rd quarter valued at approximately $35,000. Finally, Cullen Frost Bankers Inc. increased its holdings in shares of MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after purchasing an additional 8 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,664.42 on Friday. The company’s fifty day moving average price is $1,721.55 and its 200 day moving average price is $1,921.77. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The stock has a market capitalization of $84.39 billion, a P/E ratio of 43.93, a P/E/G ratio of 1.03 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results 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 company had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same period in the prior year, the business posted $9.74 EPS. MercadoLibre’s revenue was up 49.0% compared to the same quarter last year. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MELI has been the subject of several recent research reports. Zacks Research lowered shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a report on Wednesday, May 13th. Morgan Stanley cut their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a report on Friday, May 8th. Finally, Benchmark cut their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

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.