Investment Management Corp of Ontario Sells 429 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Investment Management Corp of Ontario lessened its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.5% in the fourth quarter, Holdings Channel reports. The fund owned 2,990 shares of the company’s stock after selling 429 shares during the quarter. Investment Management Corp of Ontario’s holdings in MercadoLibre were worth $5,084,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Human Investing LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at about $26,000. Pacific Capital Wealth Advisors Inc. grew its position in MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. increased its holdings in MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after buying an additional 8 shares during the last quarter. Covestor Ltd bought a new position in MercadoLibre in the fourth quarter worth approximately $27,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at $32,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MELI. Citigroup restated a “buy” rating on shares of MercadoLibre in a research report on Tuesday, April 15th. Susquehanna lifted their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. JPMorgan Chase & Co. increased their price objective 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. Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, Benchmark lowered MercadoLibre from a “buy” rating to a “cautious” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,504.67.

MercadoLibre Trading Up 1.8 %

Shares of MELI opened at $2,452.53 on Friday. MercadoLibre, Inc. has a twelve month low of $1,550.00 and a twelve month high of $2,501.00. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The company’s fifty day simple moving average is $2,081.98 and its 200-day simple moving average is $1,982.03. The company has a market cap of $124.34 billion, a P/E ratio of 65.05, a P/E/G ratio of 1.12 and a beta of 1.61.

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

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.