Dixon Mitchell Investment Counsel Inc. Acquires New Holdings in MercadoLibre, Inc. $MELI

Dixon Mitchell Investment Counsel Inc. bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter, HoldingsChannel reports. The firm bought 740 shares of the company’s stock, valued at approximately $1,729,000.

Several other hedge funds have also recently bought and sold shares of the stock. Capital Research Global Investors lifted its stake in MercadoLibre by 3.4% in the third quarter. Capital Research Global Investors now owns 1,816,092 shares of the company’s stock valued at $4,244,604,000 after buying an additional 59,838 shares in the last quarter. Capital World Investors increased its position in shares of MercadoLibre by 1.3% during the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock worth $4,067,194,000 after acquiring an additional 22,659 shares in the last quarter. Capital International Sarl raised its holdings in shares of MercadoLibre by 5.0% during the third quarter. Capital International Sarl now owns 26,401 shares of the company’s stock worth $61,698,000 after acquiring an additional 1,253 shares during the period. Capital International Inc. CA raised its holdings in shares of MercadoLibre by 1.7% during the third quarter. Capital International Inc. CA now owns 52,730 shares of the company’s stock worth $123,227,000 after acquiring an additional 869 shares during the period. Finally, Bank of Montreal Can lifted its position in MercadoLibre by 13.2% in the 3rd quarter. Bank of Montreal Can now owns 17,673 shares of the company’s stock valued at $41,301,000 after acquiring an additional 2,063 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MercadoLibre

In other MercadoLibre news, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the sale, the director owned 257 shares in the company, valued at $521,034.09. This represents a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Morgan Stanley reduced their price objective on MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Monday. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. Finally, Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,762.00.

MercadoLibre Stock Down 1.0%

MercadoLibre stock opened at $1,769.52 on Tuesday. The firm has a market capitalization of $89.71 billion, a PE ratio of 44.91, a P/E/G ratio of 0.90 and a beta of 1.48. The company’s 50-day moving average is $2,019.51 and its 200-day moving average is $2,135.12. MercadoLibre, Inc. has a fifty-two week low of $1,654.24 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.17 and a quick ratio of 1.15.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.66 by ($0.63). MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The firm had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same quarter last year, the business posted $12.61 earnings per share. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. Sell-side analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share 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.