City State Bank Decreases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

City State Bank trimmed its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 32.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210 shares of the company’s stock after selling 100 shares during the quarter. City State Bank’s holdings in MercadoLibre were worth $431,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Raymond James & Associates lifted its position in shares of MercadoLibre by 4.8% during the 2nd quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after purchasing an additional 1,604 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in MercadoLibre by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 27,642 shares of the company’s stock valued at $41,794,000 after buying an additional 4,658 shares in the last quarter. Gulf International Bank UK Ltd lifted its holdings in MercadoLibre by 33.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 4,960 shares of the company’s stock worth $7,499,000 after buying an additional 1,241 shares during the last quarter. Caprock Group LLC boosted its position in shares of MercadoLibre by 143.7% during the 2nd quarter. Caprock Group LLC now owns 580 shares of the company’s stock worth $955,000 after acquiring an additional 342 shares in the last quarter. Finally, Sarasin & Partners LLP increased its holdings in shares of MercadoLibre by 168.5% in the 2nd quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after acquiring an additional 28,494 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MELI. The Goldman Sachs Group upped their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Redburn Atlantic initiated coverage on shares of MercadoLibre in a research note on Friday. They set a “buy” rating and a $2,800.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a research note on Wednesday, October 2nd. Finally, Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,283.00.

MercadoLibre Stock Up 2.5 %

MELI opened at $2,091.16 on Friday. MercadoLibre, Inc. has a 52 week low of $1,141.04 and a 52 week high of $2,161.73. The business has a 50 day moving average price of $2,012.56 and a two-hundred day moving average price of $1,744.90. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company has a market cap of $106.02 billion, a PE ratio of 93.56, a P/E/G ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the company earned $5.16 earnings per share. The company’s revenue for the quarter was up 41.5% on a year-over-year basis. As a group, research analysts anticipate that MercadoLibre, Inc. will post 37.55 EPS for the current year.

MercadoLibre Company 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.