Busey Bank Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

Busey Bank boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 142 shares of the company’s stock after buying an additional 10 shares during the quarter. Busey Bank’s holdings in MercadoLibre were worth $291,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of MELI. GQG Partners LLC lifted its position in MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. International Assets Investment Management LLC lifted its position in MercadoLibre by 205,108.3% during the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in MercadoLibre during the second quarter valued at $2,913,000. Finally, Janus Henderson Group PLC raised its holdings in MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after acquiring an additional 132,028 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Down 0.4 %

Shares of NASDAQ MELI opened at $2,047.35 on Friday. The business’s 50 day moving average is $2,045.69 and its two-hundred day moving average is $1,777.82. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. MercadoLibre, Inc. has a 1-year low of $1,162.73 and a 1-year high of $2,161.73. The stock has a market capitalization of $103.80 billion, a P/E ratio of 73.99, a PEG ratio of 1.26 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued 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 return on equity of 43.52% and a net margin of 8.03%. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the firm posted $5.16 earnings per share. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. As a group, research analysts expect that MercadoLibre, Inc. will post 37.55 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on MELI. Bank of America raised their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Redburn Atlantic began coverage on MercadoLibre in a report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. The Goldman Sachs Group raised their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price target on the stock. in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Profile

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.