BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $29.51 Million Holdings in MercadoLibre, Inc. $MELI

Key Points

• British Columbia Investment Management Corp increased its stake in MercadoLibre, Inc. by 13.4%, acquiring 1,788 additional shares, bringing its total holdings to 15,125 shares worth approximately $29.5 million.
• Analysts have set new price targets for MercadoLibre, with estimates ranging from $2,875 to $3,500, and the stock currently holds a consensus rating of "Moderate Buy".
• MercadoLibre reported a quarterly earnings per share of $10.31, falling short of the consensus estimate, but its revenue rose by 33.8% year-over-year to $6.79 billion.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 13.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,125 shares of the company's stock after buying an additional 1,788 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in MercadoLibre were worth $29,507,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Key Financial Inc acquired a new position in MercadoLibre in the first quarter valued at about $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre in the first quarter valued at about $25,000. Park Square Financial Group LLC acquired a new position in MercadoLibre in the fourth quarter valued at about $26,000. Close Asset Management Ltd raised its stake in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group raised its stake in MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on MELI. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Benchmark reiterated a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets initiated coverage on MercadoLibre in a research report on Friday, August 1st. They issued a "buy" rating and a $3,000.00 target price on the stock. Finally, Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Trading Down 0.1%

Shares of MercadoLibre stock traded down $2.21 on Tuesday, hitting $2,405.53. The stock had a trading volume of 409,689 shares, compared to its average volume of 377,638. The stock has a 50 day moving average of $2,410.71 and a 200 day moving average of $2,281.47. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm has a market capitalization of $121.96 billion, a P/E ratio of 59.41, a PEG ratio of 1.57 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same period in the prior year, the company earned $10.48 EPS. The business's quarterly revenue was up 33.8% compared to the same quarter last year. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.