UMB Bank n.a. Grows Position in MercadoLibre, Inc. (NASDAQ:MELI)

UMB Bank n.a. boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 16.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 337 shares of the company’s stock after purchasing an additional 48 shares during the period. UMB Bank n.a.’s holdings in MercadoLibre were worth $657,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MELI. Clean Yield Group acquired a new position in shares of MercadoLibre in the first quarter valued at about $118,000. Gateway Investment Advisers LLC raised its holdings in shares of MercadoLibre by 2.4% during the first quarter. Gateway Investment Advisers LLC now owns 2,892 shares of the company’s stock worth $5,642,000 after purchasing an additional 67 shares during the last quarter. Seneca House Advisors raised its holdings in shares of MercadoLibre by 3.3% during the first quarter. Seneca House Advisors now owns 247 shares of the company’s stock worth $482,000 after purchasing an additional 8 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in MercadoLibre by 9.8% in the first quarter. Independence Bank of Kentucky now owns 168 shares of the company’s stock valued at $328,000 after acquiring an additional 15 shares during the period. Finally, First Affirmative Financial Network lifted its holdings in MercadoLibre by 11.6% in the first quarter. First Affirmative Financial Network now owns 135 shares of the company’s stock valued at $263,000 after acquiring an additional 14 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,448.60 on Tuesday. The stock’s 50-day moving average is $2,298.62 and its two-hundred day moving average is $2,066.22. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,635.88. The firm has a market cap of $124.14 billion, a price-to-earnings ratio of 64.95, a PEG ratio of 1.12 and a beta of 1.51.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MELI. Citigroup reissued a “buy” rating on shares of MercadoLibre in a report on Friday. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a “neutral” rating in a research note on Thursday, May 22nd. Bank of America increased their target price 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. Morgan Stanley reissued an “overweight” rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, UBS Group set a $3,000.00 price target on shares of MercadoLibre in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,613.75.

About MercadoLibre

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.