M&T Bank Corp Boosts Stock Holdings in MercadoLibre, Inc. $MELI

M&T Bank Corp raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 390.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,552 shares of the company’s stock after acquiring an additional 12,383 shares during the period. M&T Bank Corp’s holdings in MercadoLibre were worth $31,326,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the second quarter valued at about $29,000. Holos Integrated Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at about $32,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of MercadoLibre during the third quarter valued at about $35,000. Caitong International Asset Management Co. Ltd bought a new position in shares of MercadoLibre during the third quarter valued at about $35,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after acquiring an additional 8 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. UBS Group lowered their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Morgan Stanley lowered their price objective on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Monday, March 9th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Finally, BTIG Research reaffirmed a “buy” rating and set a $2,400.00 price objective on shares of MercadoLibre in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,685.33.

MercadoLibre Price Performance

Shares of MELI opened at $1,860.98 on Thursday. The stock has a market cap of $94.35 billion, a PE ratio of 47.23, a price-to-earnings-growth ratio of 0.87 and a beta of 1.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. MercadoLibre, Inc. has a fifty-two week low of $1,593.21 and a fifty-two week high of $2,645.22. The firm’s 50-day simple moving average is $1,783.48 and its two-hundred day simple moving average is $1,988.65.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Saturday, February 14th. The company reported $11.03 earnings per share for the quarter. The business had revenue of $8.76 billion for the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. Analysts anticipate that MercadoLibre, Inc. will post 51.5 earnings per share for the current fiscal year.

About MercadoLibre

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.