CIBC Asset Management Inc Has $30.64 Million Position in MercadoLibre, Inc. $MELI

CIBC Asset Management Inc raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,110 shares of the company’s stock after buying an additional 726 shares during the quarter. CIBC Asset Management Inc’s holdings in MercadoLibre were worth $30,637,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MELI. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the second quarter valued at about $29,000. Curio Wealth LLC boosted its holdings in MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock valued at $39,000 after purchasing an additional 14 shares in the last quarter. Stone House Investment Management LLC bought a new stake in shares of MercadoLibre in the 2nd quarter valued at approximately $39,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of MercadoLibre in the 3rd quarter valued at approximately $35,000. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of MercadoLibre by 26.3% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after buying an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MELI. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Benchmark lowered their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Morgan Stanley lifted their price target on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Citigroup decreased their price objective on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,842.94.

MercadoLibre Trading Down 0.8%

MELI opened at $2,137.29 on Monday. MercadoLibre, Inc. has a 1-year low of $1,723.90 and a 1-year high of $2,645.22. The firm has a 50-day moving average price of $2,051.07 and a two-hundred day moving average price of $2,221.36. The stock has a market capitalization of $108.36 billion, a PE ratio of 52.15, a PEG ratio of 1.06 and a beta of 1.42. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.55.

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

Insider Activity

In related news, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stelleo Tolda sold 246 shares of MercadoLibre stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,136 shares of company stock valued at $2,308,788. Company insiders own 0.25% of the company’s stock.

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.