PNC Financial Services Group Inc. Sells 955 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

PNC Financial Services Group Inc. lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,547 shares of the company’s stock after selling 955 shares during the period. PNC Financial Services Group Inc.’s holdings in MercadoLibre were worth $9,432,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Human Investing LLC bought a new position in MercadoLibre in the 4th quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. boosted its stake in MercadoLibre by 220.0% in the 4th quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. boosted its stake in MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after purchasing an additional 8 shares in the last quarter. Heck Capital Advisors LLC bought a new position in MercadoLibre in the 4th quarter worth about $32,000. Finally, Mather Group LLC. boosted its stake in MercadoLibre by 171.4% in the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after purchasing an additional 12 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MELI. Bank of America upped their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Susquehanna upped their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Finally, Barclays boosted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,990.11 on Wednesday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The firm has a market capitalization of $100.89 billion, a P/E ratio of 52.79, a PEG ratio of 1.12 and a beta of 1.64. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $1,952.66 and a 200-day moving average price of $1,969.27.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.