Cidel Asset Management Inc. Has $18.77 Million Holdings in MercadoLibre, Inc. $MELI

Cidel Asset Management Inc. lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 9.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,319 shares of the company’s stock after selling 992 shares during the quarter. MercadoLibre makes up about 1.3% of Cidel Asset Management Inc.’s holdings, making the stock its 23rd biggest holding. Cidel Asset Management Inc.’s holdings in MercadoLibre were worth $18,771,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. Darwin Wealth Management LLC acquired a new stake in MercadoLibre during the 2nd quarter valued at $29,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of MercadoLibre in the third quarter worth $35,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of MercadoLibre during the third quarter valued at $35,000. Cullen Frost Bankers Inc. grew its holdings in shares of MercadoLibre by 100.0% during the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after buying an additional 8 shares in the last quarter. Finally, Holos Integrated Wealth LLC acquired a new position in MercadoLibre during the fourth quarter valued at $32,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,715.52 on Monday. 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, Inc. has a one year low of $1,593.21 and a one year high of $2,645.22. The business’s 50-day moving average price is $1,861.92 and its two-hundred day moving average price is $2,039.18. The company has a market capitalization of $86.98 billion, a P/E ratio of 43.54, a price-to-earnings-growth ratio of 0.90 and a beta of 1.49.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MELI shares. BTIG Research reduced their price objective on MercadoLibre from $2,650.00 to $2,400.00 and set a “buy” rating for the company in a research note on Friday, March 20th. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $2,650.00 to $2,100.00 in a report on Thursday, March 12th. UBS Group reduced their price target on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a research report on Friday, February 27th. Wedbush decreased their price target on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Finally, Barclays lowered their price objective on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,708.67.

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.