CIBC Asset Management Inc grew its stake in Mercadolibre Inc (NASDAQ:MELI) by 5.8% in the second quarter, Holdings Channel.com reports. The firm owned 3,126 shares of the company’s stock after acquiring an additional 171 shares during the quarter. CIBC Asset Management Inc’s holdings in Mercadolibre were worth $3,082,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Engrave Wealth Partners LLC grew its position in shares of Mercadolibre by 121.4% in the second quarter. Engrave Wealth Partners LLC now owns 31 shares of the company’s stock valued at $30,000 after purchasing an additional 17 shares in the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in shares of Mercadolibre in the second quarter valued at approximately $33,000. Whittier Trust Co. purchased a new stake in shares of Mercadolibre in the second quarter valued at approximately $35,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Mercadolibre in the first quarter valued at approximately $38,000. Finally, American Beacon Advisors Inc. purchased a new stake in shares of Mercadolibre in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 80.50% of the company’s stock.
MELI has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on Mercadolibre from $800.00 to $1,000.00 in a research report on Wednesday, May 20th. UBS Group increased their price objective on Mercadolibre from $670.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Bradesco Corretora upgraded Mercadolibre from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $985.00 to $1,250.00 in a research report on Monday, July 20th. BidaskClub lowered Mercadolibre from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 16th. Finally, TheStreet upgraded Mercadolibre from a “d+” rating to a “c-” rating in a research report on Wednesday, May 13th. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $827.40.
NASDAQ:MELI opened at $1,124.62 on Friday. The business’s fifty day moving average price is $981.92 and its 200 day moving average price is $736.54. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.23 and a quick ratio of 2.22. Mercadolibre Inc has a 12 month low of $422.22 and a 12 month high of $1,150.82.
Mercadolibre (NASDAQ:MELI) last posted its earnings results on Tuesday, May 5th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.04. The firm had revenue of $652.09 million for the quarter, compared to analyst estimates of $609.27 million. Mercadolibre had a negative return on equity of 5.29% and a negative net margin of 8.28%. Mercadolibre’s revenue for the quarter was up 37.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 earnings per share. As a group, equities research analysts predict that Mercadolibre Inc will post -0.95 EPS for the current year.
Mercadolibre Company Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
Further Reading: What are the disadvantages of after-hours trading?
Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mercadolibre Inc (NASDAQ:MELI).
Receive News & Ratings for Mercadolibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercadolibre and related companies with MarketBeat.com's FREE daily email newsletter.