Canada Pension Plan Investment Board Has $4.38 Million Holdings in MercadoLibre, Inc. $MELI

Key Points

• Canada Pension Plan Investment Board reduced its MercadoLibre stake by 95.7% in the second quarter, selling 57,427 shares and retaining 2,579 shares worth approximately $4.38 million.
• MercadoLibre reported strong quarterly results, with revenue rising 49.8% year over year to $10.17 billion and earnings of $9.19 per share, exceeding analyst expectations.
• The stock carries a “Moderate Buy” consensus rating from analysts, with an average price target of $2,272; institutional investors and hedge funds own 87.62% of outstanding shares.

Canada Pension Plan Investment Board cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 95.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,579 shares of the company's stock after selling 57,427 shares during the quarter. Canada Pension Plan Investment Board's holdings in MercadoLibre were worth $4,378,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new position in MercadoLibre during the 4th quarter worth $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at $26,000. Purpose Unlimited Inc. bought a new stake in shares of MercadoLibre during the 4th quarter valued at $28,000. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth $29,000. Finally, Curio Wealth LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

MELI stock opened at $1,966.25 on Monday. The company has a 50 day simple moving average of $1,824.45 and a 200 day simple moving average of $1,770.51. The stock has a market cap of $99.68 billion, a price-to-earnings ratio of 53.47, a P/E/G ratio of 1.35 and a beta of 1.34. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating analysts' consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company's quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter last year, the business posted $10.31 earnings per share. Research analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a research note on Friday, May 8th. Zacks Research upgraded shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Morgan Stanley dropped their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Finally, Citigroup upped their price target on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,272.00.

MercadoLibre Company 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.

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