BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $4.83 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 46.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,078 shares of the company’s stock after selling 3,531 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in MercadoLibre were worth $4,831,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Ameritas Investment Partners Inc. increased its position in shares of MercadoLibre by 0.7% during the 1st quarter. Ameritas Investment Partners Inc. now owns 1,077 shares of the company’s stock worth $1,420,000 after purchasing an additional 8 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in MercadoLibre by 30.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 34 shares of the company’s stock valued at $40,000 after acquiring an additional 8 shares in the last quarter. Savant Capital LLC increased its position in MercadoLibre by 4.0% in the 2nd quarter. Savant Capital LLC now owns 208 shares of the company’s stock valued at $246,000 after acquiring an additional 8 shares in the last quarter. Analyst IMS Investment Management Services Ltd. increased its position in MercadoLibre by 1.3% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 691 shares of the company’s stock valued at $809,000 after acquiring an additional 9 shares in the last quarter. Finally, CVA Family Office LLC increased its position in MercadoLibre by 21.3% in the 2nd quarter. CVA Family Office LLC now owns 57 shares of the company’s stock valued at $68,000 after acquiring an additional 10 shares in the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.
Analyst Ratings Changes
MELI has been the subject of several research reports. Barclays raised their price objective on shares of MercadoLibre from $1,575.00 to $1,625.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price objective for the company from $1,400.00 to $1,650.00 in a research report on Friday, September 1st. Bank of America upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and set a $2,000.00 price objective for the company in a research report on Monday, November 27th. JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $1,700.00 to $2,000.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Finally, Wedbush reiterated an “outperform” rating and set a $1,500.00 price target on shares of MercadoLibre in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $1,706.07.
Get Our Latest Research Report on MercadoLibre
MercadoLibre Stock Up 1.9 %
MercadoLibre stock opened at $1,652.01 on Friday. The company’s 50 day simple moving average is $1,336.76 and its 200 day simple moving average is $1,287.67. MercadoLibre, Inc. has a fifty-two week low of $815.85 and a fifty-two week high of $1,660.00. The firm has a market capitalization of $83.53 billion, a price-to-earnings ratio of 84.55, a PEG ratio of 1.30 and a beta of 1.60. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.27 and a quick ratio of 1.24.
MercadoLibre (NASDAQ:MELI – Get Free Report) last released its quarterly earnings data on Wednesday, November 1st. The company reported $7.16 earnings per share for the quarter, topping the consensus estimate of $5.88 by $1.28. MercadoLibre had a net margin of 7.47% and a return on equity of 44.56%. The business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the firm earned $2.56 EPS. MercadoLibre’s quarterly revenue was up 43.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 22.8 EPS for the current year.
MercadoLibre Profile (Free Report)
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.
Further Reading
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