MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by CENTRAL TRUST Co

Posted by on Jul 3rd, 2023

CENTRAL TRUST Co trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 12.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 110 shares of the company’s stock after selling 15 shares during the period. CENTRAL TRUST Co’s holdings in MercadoLibre were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in MercadoLibre by 28.6% in the fourth quarter. Huntington National Bank now owns 45 shares of the company’s stock valued at $38,000 after purchasing an additional 10 shares during the period. Hollencrest Capital Management acquired a new position in shares of MercadoLibre in the 4th quarter valued at $32,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of MercadoLibre during the 4th quarter valued at $144,000. LVW Advisors LLC increased its holdings in shares of MercadoLibre by 6.8% during the 4th quarter. LVW Advisors LLC now owns 469 shares of the company’s stock worth $397,000 after buying an additional 30 shares during the last quarter. Finally, Resources Investment Advisors LLC. raised its position in shares of MercadoLibre by 2.7% in the 4th quarter. Resources Investment Advisors LLC. now owns 562 shares of the company’s stock worth $476,000 after buying an additional 15 shares during the period. 80.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on MELI. Barclays boosted their price target on MercadoLibre from $1,525.00 to $1,575.00 in a research report on Thursday, May 4th. Bank of America increased their target price on shares of MercadoLibre from $1,400.00 to $1,680.00 and gave the stock a “buy” rating in a research report on Thursday, April 13th. New Street Research lowered shares of MercadoLibre from a “buy” rating to a “neutral” rating and set a $1,350.00 price target on the stock. in a report on Thursday, April 6th. Morgan Stanley boosted their price objective on shares of MercadoLibre from $1,620.00 to $1,770.00 in a research note on Friday, March 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,600.00 to $1,700.00 in a research note on Monday, May 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,484.50.

MercadoLibre Price Performance

MELI opened at $1,184.60 on Monday. MercadoLibre, Inc. has a twelve month low of $615.54 and a twelve month high of $1,365.64. The firm has a market cap of $59.48 billion, a price-to-earnings ratio of 97.02, a PEG ratio of 1.50 and a beta of 1.54. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 1.23. The company has a fifty day simple moving average of $1,248.71 and a 200 day simple moving average of $1,166.44.

MercadoLibre (NASDAQ:MELI – Free Report) last announced its earnings results on Wednesday, May 3rd. The company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.93. MercadoLibre had a return on equity of 34.92% and a net margin of 5.46%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the firm earned $1.30 earnings per share. The company’s revenue was up 35.1% on a year-over-year basis. Equities research analysts expect that MercadoLibre, Inc. will post 16.68 EPS for the current fiscal year.

MercadoLibre Profile

(Free Report)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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