CIBC Asset Management Inc lifted its position in Mercadolibre Inc (NASDAQ:MELI) by 6.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,252 shares of the company’s stock after acquiring an additional 145 shares during the period. CIBC Asset Management Inc’s holdings in Mercadolibre were worth $767,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership increased its position in shares of Mercadolibre by 247.8% in the second quarter. Artisan Partners Limited Partnership now owns 292,491 shares of the company’s stock worth $87,434,000 after acquiring an additional 208,402 shares in the last quarter. Compass Group LLC increased its position in shares of Mercadolibre by 15.7% in the second quarter. Compass Group LLC now owns 9,120 shares of the company’s stock worth $2,726,000 after acquiring an additional 1,240 shares in the last quarter. Vident Investment Advisory LLC purchased a new position in shares of Mercadolibre in the second quarter worth approximately $1,240,000. Apertura Capital LLC increased its position in shares of Mercadolibre by 27.1% in the second quarter. Apertura Capital LLC now owns 70,000 shares of the company’s stock worth $20,925,000 after acquiring an additional 14,940 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Mercadolibre in the second quarter worth approximately $239,000. 95.42% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on MELI. BidaskClub raised shares of Mercadolibre from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. Barclays lifted their target price on shares of Mercadolibre from $360.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, November 2nd. Piper Jaffray Companies dropped their target price on shares of Mercadolibre to $340.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 30th. Credit Suisse Group dropped their target price on shares of Mercadolibre from $425.00 to $420.00 and set an “outperform” rating on the stock in a research report on Thursday, August 9th. Finally, ValuEngine raised shares of Mercadolibre from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $359.92.
Shares of MELI opened at $325.69 on Friday. Mercadolibre Inc has a 52 week low of $258.06 and a 52 week high of $417.91. The company has a market cap of $15.80 billion, a P/E ratio of 128.73 and a beta of 1.96. The company has a current ratio of 1.62, a quick ratio of 1.15 and a debt-to-equity ratio of 1.62.
Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, November 1st. The company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.13). Mercadolibre had a negative net margin of 7.04% and a negative return on equity of 9.47%. The company had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $352.75 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities research analysts predict that Mercadolibre Inc will post -0.87 EPS for the current year.
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MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.
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