MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 27.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 148 shares of the company’s stock after selling 55 shares during the quarter. Wesbanco Bank Inc.’s holdings in MercadoLibre were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Human Investing LLC purchased a new position in MercadoLibre in the 4th quarter worth about $26,000. Park Square Financial Group LLC acquired a new position in shares of MercadoLibre in the fourth quarter worth about $26,000. Covestor Ltd acquired a new position in shares of MercadoLibre in the fourth quarter worth about $27,000. Heck Capital Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth approximately $32,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $37,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on MELI. Jefferies Financial Group reaffirmed a “hold” rating and issued a $2,800.00 price objective (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. Wall Street Zen lowered MercadoLibre from a “buy” rating to a “hold” rating in a report on Friday, May 16th. UBS Group set a $3,000.00 price target on MercadoLibre in a report on Monday, June 2nd. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Finally, Barclays raised their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,613.75.

MercadoLibre Price Performance

NASDAQ MELI opened at $2,396.44 on Wednesday. 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 stock has a market capitalization of $121.49 billion, a PE ratio of 63.57, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. MercadoLibre, Inc. has a 12-month low of $1,550.00 and a 12-month high of $2,635.88. The company has a 50 day moving average price of $2,307.64 and a two-hundred day moving average price of $2,068.51.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. MercadoLibre’s quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.78 EPS. As a group, equities analysts predict that MercadoLibre, Inc. will post 43.96 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.