TD Waterhouse Canada Inc. Grows Stock Holdings in MercadoLibre, Inc. $MELI

TD Waterhouse Canada Inc. grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 46.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,945 shares of the company’s stock after acquiring an additional 1,252 shares during the period. TD Waterhouse Canada Inc.’s holdings in MercadoLibre were worth $9,843,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Ninety One North America Inc. lifted its stake in shares of MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock worth $15,927,000 after acquiring an additional 1,080 shares in the last quarter. Resona Asset Management Co. Ltd. raised its stake in shares of MercadoLibre by 4.0% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after purchasing an additional 585 shares in the last quarter. Banco Santander S.A. grew its stake in MercadoLibre by 221.9% in the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock worth $5,357,000 after purchasing an additional 1,893 shares in the last quarter. Jennison Associates LLC grew its position in shares of MercadoLibre by 7.0% in the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after acquiring an additional 81,124 shares in the last quarter. Finally, Achmea Investment Management B.V. raised its position in shares of MercadoLibre by 10.9% during the 2nd quarter. Achmea Investment Management B.V. now owns 5,326 shares of the company’s stock valued at $13,921,000 after acquiring an additional 525 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $2,077.18 on Thursday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The firm’s 50 day moving average is $2,239.14 and its 200-day moving average is $2,367.73. The stock has a market capitalization of $105.31 billion, a P/E ratio of 50.69, a P/E/G ratio of 1.56 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The company had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business’s revenue was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.83 earnings per share. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on MELI. Morgan Stanley boosted their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research note on Monday, November 3rd. Citigroup dropped their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Scotiabank initiated coverage on MercadoLibre in a research note on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price on the stock. Barclays raised their price target on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,854.71.

MercadoLibre Company 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.