Investment Management Corp of Ontario Acquires 1,976 Shares of MercadoLibre, Inc. $MELI

Investment Management Corp of Ontario raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 51.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,845 shares of the company’s stock after acquiring an additional 1,976 shares during the quarter. Investment Management Corp of Ontario’s holdings in MercadoLibre were worth $15,277,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $698,848,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after purchasing an additional 96,283 shares during the last quarter. GQG Partners LLC lifted its stake in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after buying an additional 87,912 shares during the period. Jennison Associates LLC lifted its stake in MercadoLibre by 7.0% in the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after buying an additional 81,124 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in MercadoLibre during the second quarter worth about $198,244,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on MELI shares. Citigroup lowered their price target on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Morgan Stanley lifted their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a research report on Friday, October 31st. Finally, Susquehanna dropped their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,848.82.

MercadoLibre Trading Up 1.1%

Shares of NASDAQ:MELI opened at $2,088.36 on Tuesday. The firm has a market cap of $105.88 billion, a price-to-earnings ratio of 50.96, a PEG ratio of 1.48 and a beta of 1.42. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company’s fifty day simple moving average is $2,138.19 and its 200 day simple moving average is $2,327.61. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The firm had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter last year, the company posted $7.83 EPS. MercadoLibre’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; 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.