Cibc World Market Inc. Acquires 404 Shares of MercadoLibre, Inc. $MELI

Cibc World Market Inc. boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 19.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,495 shares of the company’s stock after buying an additional 404 shares during the period. Cibc World Market Inc.’s holdings in MercadoLibre were worth $4,235,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MELI. Interchange Capital Partners LLC increased its position in shares of MercadoLibre by 2.1% during the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after acquiring an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC lifted its position in MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after acquiring an additional 5 shares in the last quarter. Mitchell Capital Management Co. lifted its position in MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after acquiring an additional 5 shares in the last quarter. Strategic Advisors LLC boosted its stake in MercadoLibre by 0.4% during the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after purchasing an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its stake in MercadoLibre by 2.0% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after purchasing an additional 5 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on MELI. BTIG Research restated a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a report on Thursday, August 6th. Citigroup increased their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Morgan Stanley dropped their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a report on Wednesday, May 13th. Finally, Scotiabank reduced their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,997.00 on Wednesday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The stock’s 50 day moving average price is $1,805.54 and its 200-day moving average price is $1,771.87. The company has a market capitalization of $101.25 billion, a PE ratio of 54.31, a PEG ratio of 1.33 and a beta of 1.34. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.MercadoLibre’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period in the prior year, the company posted $10.31 earnings per share. On average, equities analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current year.

MercadoLibre Company 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.