Canada Pension Plan Investment Board Sells 15,548 Shares of MercadoLibre, Inc. $MELI

Key Points

• Canada Pension Plan Investment Board reduced its stake in MercadoLibre, Inc. by 15.9%, owning 81,987 shares valued at approximately $159.9 million as of the most recent reporting period.
• Despite the reduction in investment, other institutional investors, including Close Asset Management Ltd and Brooklyn Investment Group, have significantly increased their positions in MercadoLibre.
• MercadoLibre's latest earnings report showed an earnings per share (EPS) of $10.31, missing the consensus estimate of $12.01, but revenue increased by 33.8% year-over-year to $6.79 billion.

Canada Pension Plan Investment Board cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 15.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 81,987 shares of the company's stock after selling 15,548 shares during the quarter. Canada Pension Plan Investment Board owned about 0.16% of MercadoLibre worth $159,946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Key Financial Inc acquired a new position in shares of MercadoLibre in the 1st quarter valued at approximately $25,000. GW&K Investment Management LLC acquired a new position in shares of MercadoLibre in the 1st quarter valued at approximately $25,000. Close Asset Management Ltd grew its position in shares of MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the period. Park Square Financial Group LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $26,000. Finally, Brooklyn Investment Group grew its position in shares of MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after purchasing an additional 13 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

NASDAQ:MELI traded up $0.62 during trading hours on Monday, hitting $2,472.91. The company's stock had a trading volume of 292,481 shares, compared to its average volume of 386,617. The stock has a fifty day simple moving average of $2,414.10 and a 200-day simple moving average of $2,294.36. The company has a market capitalization of $125.38 billion, a P/E ratio of 61.07, a PEG ratio of 1.61 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MELI shares. UBS Group set a $3,000.00 price objective on MercadoLibre in a research report on Monday, June 2nd. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. JPMorgan Chase & Co. upped their price target on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,817.22.

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.