Cibc World Market Inc. boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 19.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,495 shares of the company’s stock after purchasing 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 filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bison Wealth LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at approximately $206,000. Empowered Funds LLC increased its position in MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after buying an additional 49 shares during the last quarter. Focus Partners Wealth raised its stake in shares of MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after buying an additional 178 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of MercadoLibre in the second quarter valued at $261,000. Finally, Gamco Investors INC. ET AL raised its stake in shares of MercadoLibre by 21.4% in the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after buying an additional 30 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
MELI has been the subject of several research reports. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research note on Wednesday, May 13th. UBS Group lowered their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, August 6th. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,272.00.
MercadoLibre Price Performance
MercadoLibre stock opened at $1,997.00 on Wednesday. The firm has a market capitalization of $101.25 billion, a P/E ratio of 54.31, a PEG ratio of 1.33 and a beta of 1.34. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The business has a fifty day moving average price of $1,805.54 and a 200-day moving average price of $1,771.87.
MercadoLibre (NASDAQ:MELI – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the company posted $10.31 EPS. The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.
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.
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