Comerica Bank Purchases 439 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Comerica Bank lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 22.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,398 shares of the company’s stock after buying an additional 439 shares during the quarter. Comerica Bank’s holdings in MercadoLibre were worth $4,078,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Capital International Investors grew its stake in shares of MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after purchasing an additional 470,829 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 41.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock valued at $2,370,848,000 after acquiring an additional 405,425 shares during the period. Wealthfront Advisers LLC acquired a new position in MercadoLibre during the fourth quarter valued at approximately $565,306,000. Capital World Investors raised its holdings in MercadoLibre by 24.5% in the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after purchasing an additional 308,973 shares during the period. Finally, Norges Bank bought a new position in shares of MercadoLibre during the fourth quarter worth $383,051,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MELI shares. Susquehanna increased their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Bank of America lifted their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Morgan Stanley reaffirmed an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. Citigroup reissued a “buy” rating on shares of MercadoLibre in a research note on Tuesday, April 15th. Finally, Barclays lifted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,464.67.

MercadoLibre Trading Down 0.8 %

MELI stock opened at $2,229.00 on Wednesday. The stock has a market cap of $113.00 billion, a price-to-earnings ratio of 59.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The company has a fifty day moving average price of $2,064.47 and a two-hundred day moving average price of $1,975.64. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

About MercadoLibre

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.