Dixon Mitchell Investment Counsel Inc. Purchases 3,510 Shares of MercadoLibre, Inc. $MELI

Dixon Mitchell Investment Counsel Inc. boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 474.3% during the fourth quarter, Holdings Channel reports. The fund owned 4,250 shares of the company’s stock after acquiring an additional 3,510 shares during the period. Dixon Mitchell Investment Counsel Inc.’s holdings in MercadoLibre were worth $8,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MELI. Bison Wealth LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $206,000. Empowered Funds LLC boosted its holdings in shares of MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares in the last quarter. Focus Partners Wealth boosted its holdings in shares of MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of MercadoLibre in the 2nd quarter worth about $261,000. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of MercadoLibre by 21.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after purchasing an additional 30 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,589.60 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average of $1,715.68 and a 200-day moving average of $1,873.83. The firm has a market cap of $80.59 billion, a P/E ratio of 41.95, a P/E/G ratio of 0.98 and a beta of 1.36. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.74 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. BTIG Research restated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and cut their price target for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

About MercadoLibre

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.