Bank of Nova Scotia Has $23.09 Million Stake in MercadoLibre, Inc. $MELI

Bank of Nova Scotia lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 15.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,836 shares of the company’s stock after acquiring an additional 1,154 shares during the period. Bank of Nova Scotia’s holdings in MercadoLibre were worth $23,093,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Brooklyn Investment Group boosted its position in shares of MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares in the last quarter. Twin Tree Management LP bought a new position in MercadoLibre in the first quarter worth approximately $29,000. Saudi Central Bank acquired a new stake in MercadoLibre in the first quarter valued at approximately $35,000. McIlrath & Eck LLC increased its holdings in shares of MercadoLibre by 375.0% during the first quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock valued at $37,000 after acquiring an additional 15 shares in the last quarter. Finally, Highline Wealth Partners LLC raised its position in shares of MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MELI has been the subject of several research reports. Wedbush lifted their price target on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Benchmark reduced their price objective on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Finally, Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and an average target price of $2,848.82.

MercadoLibre Stock Down 0.7%

MELI stock opened at $2,074.48 on Wednesday. The stock has a fifty day moving average of $2,132.94 and a 200-day moving average of $2,324.56. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The company has a market capitalization of $105.18 billion, a price-to-earnings ratio of 50.62, a PEG ratio of 1.50 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17.

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

About MercadoLibre

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.