Bank of New York Mellon Corp grew its stake in Mercadolibre Inc (NASDAQ:MELI) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,988 shares of the company’s stock after purchasing an additional 653 shares during the period. Bank of New York Mellon Corp’s holdings in Mercadolibre were worth $13,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. HMS Capital Management LLC purchased a new stake in shares of Mercadolibre in the second quarter valued at approximately $211,000. Paloma Partners Management Co purchased a new stake in shares of Mercadolibre in the second quarter valued at approximately $239,000. Natixis purchased a new stake in shares of Mercadolibre in the second quarter valued at approximately $253,000. Sawtooth Solutions LLC purchased a new stake in shares of Mercadolibre in the second quarter valued at approximately $257,000. Finally, Financial Enhancement Group LLC purchased a new stake in shares of Mercadolibre in the second quarter valued at approximately $259,000. Institutional investors and hedge funds own 93.38% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Barclays upped their price target on Mercadolibre from $365.00 to $375.00 and gave the company an “overweight” rating in a research report on Thursday, August 9th. Credit Suisse Group dropped their price target on Mercadolibre from $425.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, August 9th. ValuEngine upgraded Mercadolibre from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 9th. BidaskClub upgraded Mercadolibre from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Finally, Zacks Investment Research lowered Mercadolibre from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $362.62.

Shares of Mercadolibre stock opened at $350.56 on Friday. The company has a market capitalization of $16.04 billion, a P/E ratio of 138.56 and a beta of 2.07. Mercadolibre Inc has a fifty-two week low of $268.90 and a fifty-two week high of $417.91. The company has a quick ratio of 1.61, a current ratio of 1.62 and a debt-to-equity ratio of 1.62.

Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, November 1st. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.13). The business had revenue of $355.30 million during the quarter, compared to analysts’ expectations of $352.75 million. Mercadolibre had a negative return on equity of 9.47% and a negative net margin of 7.04%. The company’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. Equities research analysts predict that Mercadolibre Inc will post -0.99 EPS for the current year.

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About Mercadolibre

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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