CENTRAL TRUST Co Raises Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

CENTRAL TRUST Co grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 19.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 919 shares of the company’s stock after buying an additional 152 shares during the quarter. 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 have also recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the period. Optimum Investment Advisors lifted its stake in shares of MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after purchasing an additional 15 shares during the period. Financial Connections Group Inc. purchased a new stake in MercadoLibre during the second quarter worth about $36,000. Quarry LP acquired a new position in MercadoLibre during the second quarter worth about $43,000. Finally, NBC Securities Inc. increased its holdings in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after buying an additional 7 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on MELI shares. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Morgan Stanley upped their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Bank of America lifted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Finally, Susquehanna lifted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,301.67.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,055.93 on Friday. The stock has a fifty day moving average price of $2,044.50 and a 200 day moving average price of $1,775.88. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 52 week low of $1,162.73 and a 52 week high of $2,161.73. The firm has a market capitalization of $104.23 billion, a P/E ratio of 91.99, a PEG ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data 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 net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the firm posted $5.16 EPS. The company’s revenue was up 41.5% on a year-over-year basis. Equities research analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share 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.