NBT Bank N A NY Increases Position in MercadoLibre, Inc. $MELI

NBT Bank N A NY increased its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1,883.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,440 shares of the company’s stock after buying an additional 2,317 shares during the quarter. NBT Bank N A NY’s holdings in MercadoLibre were worth $5,702,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. lifted its position in MercadoLibre by 26.3% during the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after acquiring an additional 5 shares during the period. Quadcap Wealth Management LLC raised its stake in shares of MercadoLibre by 4.2% during the second quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock worth $324,000 after purchasing an additional 5 shares during the last quarter. PFW Advisors LLC lifted its holdings in shares of MercadoLibre by 4.8% during the third quarter. PFW Advisors LLC now owns 110 shares of the company’s stock worth $257,000 after purchasing an additional 5 shares during the period. Yousif Capital Management LLC grew its position in MercadoLibre by 3.5% in the 3rd quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock valued at $344,000 after buying an additional 5 shares during the last quarter. Finally, Natural Investments LLC increased its stake in MercadoLibre by 0.5% in the 3rd quarter. Natural Investments LLC now owns 1,119 shares of the company’s stock valued at $2,613,000 after buying an additional 6 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MercadoLibre

In other news, Director Emiliano Calemzuk sold 45 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the sale, the director directly owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays raised their target price on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research report on Monday, November 3rd. Benchmark lowered their price objective on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Wedbush cut their target price on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating for the company in a research note on Friday, December 19th. Finally, Susquehanna decreased their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,842.94.

MercadoLibre Price Performance

MELI stock opened at $2,075.01 on Friday. The firm has a 50 day moving average of $2,049.41 and a 200-day moving average of $2,239.01. The company has a market cap of $105.20 billion, a price-to-earnings ratio of 50.63, a PEG ratio of 1.04 and a beta of 1.42. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55. MercadoLibre, Inc. has a 12-month low of $1,723.90 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The firm had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the previous year, the business earned $7.83 earnings per share. The business’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.