NBT Bank N A NY Lowers Stake in MercadoLibre, Inc. $MELI

NBT Bank N A NY cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 95.1% during the first quarter, HoldingsChannel reports. The firm owned 103 shares of the company’s stock after selling 2,014 shares during the period. NBT Bank N A NY’s holdings in MercadoLibre were worth $178,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Interchange Capital Partners LLC boosted its position in MercadoLibre by 2.1% in the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock valued at $490,000 after buying an additional 5 shares during the period. Cornerstone Select Advisors LLC increased its position in shares of MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after acquiring an additional 5 shares during the period. Mitchell Capital Management Co. increased its position in shares of MercadoLibre by 0.4% during the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock worth $2,542,000 after acquiring an additional 5 shares during the period. Strategic Advisors LLC raised its stake in shares of MercadoLibre by 0.4% during the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after acquiring an additional 5 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its stake in shares of MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after acquiring an additional 5 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Stock Up 0.5%

Shares of NASDAQ MELI traded up $8.18 during mid-day trading on Tuesday, reaching $1,813.86. 66,077 shares of the company were exchanged, compared to its average volume of 559,600. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The firm has a 50-day moving average of $1,674.97 and a 200 day moving average of $1,831.70. The stock has a market cap of $91.96 billion, a price-to-earnings ratio of 47.87, a P/E/G ratio of 1.09 and a beta of 1.35. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The company had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. MercadoLibre’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter last year, the firm earned $9.74 EPS. On average, research analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and decreased their target price for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday. Cantor Fitzgerald dropped their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Finally, UBS Group cut their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

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.