Vancity Investment Management Ltd Purchases 4,842 Shares of MercadoLibre, Inc. $MELI

Vancity Investment Management Ltd grew its position in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 114.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,067 shares of the company’s stock after purchasing an additional 4,842 shares during the quarter. MercadoLibre makes up 2.5% of Vancity Investment Management Ltd’s portfolio, making the stock its 16th biggest position. Vancity Investment Management Ltd’s holdings in MercadoLibre were worth $18,263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre in the second quarter valued at about $29,000. Laurel Wealth Advisors LLC bought a new position in MercadoLibre during the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in MercadoLibre during the 3rd quarter valued at about $35,000. Finally, Curio Wealth LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at about $30,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

NASDAQ MELI opened at $1,635.15 on Friday. The firm’s fifty day simple moving average is $1,709.76 and its two-hundred day simple moving average is $1,861.50. The firm has a market capitalization of $82.90 billion, a P/E ratio of 43.16, a P/E/G ratio of 1.01 and a beta of 1.36. 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, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22.

MercadoLibre (NASDAQ:MELIGet Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business 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 business’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.74 EPS. Analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on MELI. Morgan Stanley lowered their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a report on Wednesday, May 13th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Finally, Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

Check Out Our Latest Report on MercadoLibre

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The shares were 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 of the company’s stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by company insiders.

MercadoLibre Profile

(Free Report)

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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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