CENTRAL TRUST Co Increases Stake in MercadoLibre, Inc. (NASDAQ:MELI)

CENTRAL TRUST Co increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 19.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 919 shares of the company’s stock after buying an additional 152 shares during the period. CENTRAL TRUST Co’s holdings in MercadoLibre were worth $1,886,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. GQG Partners LLC raised its holdings in shares of MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. International Assets Investment Management LLC increased its holdings in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after buying an additional 248,181 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in MercadoLibre during the 2nd quarter worth about $2,913,000. Finally, Janus Henderson Group PLC boosted its position in shares of MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MELI. BTIG Research boosted their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Barclays boosted their price objective on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price on the stock. in a research report on Wednesday, October 2nd. Bank of America boosted their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, Susquehanna raised their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Stock Up 0.8 %

MELI opened at $2,055.93 on Friday. MercadoLibre, Inc. has a 52 week low of $1,162.73 and a 52 week high of $2,161.73. The business has a 50 day moving average price of $2,044.50 and a two-hundred day moving average price of $1,775.88. 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 $104.23 billion, a PE ratio of 91.99, a P/E/G ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS 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 business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the business earned $5.16 earnings per share. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. As a group, research analysts anticipate that MercadoLibre, Inc. will post 37.55 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.