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

Busey Bank grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 7.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the period. Optimum Investment Advisors lifted its holdings in MercadoLibre by 750.0% in the 3rd quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares during the period. Financial Connections Group Inc. purchased a new stake in MercadoLibre in the 2nd quarter worth approximately $36,000. Quarry LP purchased a new stake in MercadoLibre in the 2nd quarter worth approximately $43,000. Finally, NBC Securities Inc. raised its position in shares of MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company’s stock worth $55,000 after acquiring an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MELI shares. Morgan Stanley increased their target price on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Raymond James started coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a research report on Monday, October 7th. JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a research report on Wednesday, October 2nd. Finally, Susquehanna increased their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,301.67.

MercadoLibre Stock Performance

Shares of MELI opened at $2,047.35 on Friday. The business’s fifty day simple moving average is $2,045.69 and its two-hundred day simple moving average is $1,777.82. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a 12 month low of $1,162.73 and a 12 month high of $2,161.73. The company has a market cap of $103.80 billion, a price-to-earnings ratio of 73.99, a P/E/G ratio of 1.26 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating 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 business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period last year, the business posted $5.16 EPS. The company’s revenue was up 41.5% compared to the same quarter last year. Research analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current fiscal 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.