BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 5,723 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 75.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,337 shares of the company's stock after buying an additional 5,723 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in MercadoLibre were worth $22,679,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Merit Financial Group LLC boosted its holdings in shares of MercadoLibre by 24.6% in the 4th quarter. Merit Financial Group LLC now owns 703 shares of the company's stock valued at $1,195,000 after buying an additional 139 shares during the last quarter. Diversify Wealth Management LLC raised its position in MercadoLibre by 15.6% during the fourth quarter. Diversify Wealth Management LLC now owns 460 shares of the company's stock worth $809,000 after acquiring an additional 62 shares in the last quarter. UMB Bank n.a. lifted its stake in MercadoLibre by 26.8% in the fourth quarter. UMB Bank n.a. now owns 289 shares of the company's stock valued at $491,000 after acquiring an additional 61 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of MercadoLibre by 33.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 56 shares of the company's stock valued at $95,000 after acquiring an additional 14 shares during the period. Finally, Alpha Cubed Investments LLC grew its position in shares of MercadoLibre by 16.5% in the 4th quarter. Alpha Cubed Investments LLC now owns 269 shares of the company's stock valued at $457,000 after acquiring an additional 38 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

NASDAQ:MELI opened at $2,601.97 on Thursday. MercadoLibre, Inc. has a 52 week low of $1,550.00 and a 52 week high of $2,625.11. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm's 50-day simple moving average is $2,169.92 and its 200 day simple moving average is $2,011.23. The firm has a market cap of $131.91 billion, a price-to-earnings ratio of 69.02, a P/E/G ratio of 1.12 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the prior year, the business posted $6.78 EPS. The business's revenue was up 37.0% compared to the same quarter last year. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Bank of America raised their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday, February 21st. The Goldman Sachs Group boosted their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Cantor Fitzgerald dropped their price target on MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, New Street Research raised shares of MercadoLibre from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $2,551.43.

MercadoLibre Profile

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.

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