Vancity Investment Management Ltd Increases Holdings in MercadoLibre, Inc. $MELI

Vancity Investment Management Ltd increased its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 114.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,067 shares of the company’s stock after acquiring an additional 4,842 shares during the period. MercadoLibre makes up approximately 2.5% of Vancity Investment Management Ltd’s investment portfolio, making the stock its 16th biggest position. Vancity Investment Management Ltd’s holdings in MercadoLibre were worth $18,263,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MELI. Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the 2nd quarter valued at $29,000. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre during the fourth quarter worth $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre during the fourth quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new position in MercadoLibre during the third quarter valued at $35,000. Finally, Curio Wealth LLC bought a new position in MercadoLibre during the fourth quarter valued at $30,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Up 0.2%

NASDAQ:MELI opened at $1,635.15 on Friday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22. The company has a market cap of $82.90 billion, a price-to-earnings ratio of 43.16, a price-to-earnings-growth ratio of 1.01 and a beta of 1.36. The stock has a fifty day simple moving average of $1,709.76 and a 200-day simple moving average of $1,861.50. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The company had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The firm’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $9.74 earnings per share. Analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MELI shares. Benchmark lowered their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Morgan Stanley cut their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. JPMorgan Chase & Co. decreased their price objective on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Finally, Cantor Fitzgerald dropped their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.