CIBC Bancorp USA Inc. Purchases Shares of 3,492 MercadoLibre, Inc. $MELI

Key Points

• CIBC Bancorp USA opened a new position in MercadoLibre of 3,492 shares in Q3 valued at approximately $8.16 million, while institutional ownership stands at 87.62% and Danske Bank also initiated a large ~$81.1 million stake.
• MarketBeat shows a consensus rating of "Moderate Buy" with an average target of $2,708.67, but several firms have trimmed views recently (JPMorgan cut to Neutral and a $2,100 target; UBS lowered its target to $2,700; Weiss downgraded to Hold).
• Recent results showed revenue up 44.6% to $8.76 billion but an EPS miss of $11.03 versus $11.66 expected, and the stock is trading around $1,635 (near its 12‑month low of $1,631) with a P/E of 41.52.

CIBC Bancorp USA Inc. acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,492 shares of the company's stock, valued at approximately $8,161,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sunbelt Securities Inc. grew its stake in MercadoLibre by 21.8% during the third quarter. Sunbelt Securities Inc. now owns 263 shares of the company's stock worth $615,000 after purchasing an additional 47 shares during the period. Captrust Financial Advisors lifted its stake in MercadoLibre by 6.1% in the third quarter. Captrust Financial Advisors now owns 2,247 shares of the company's stock valued at $5,252,000 after buying an additional 130 shares during the period. Coldstream Capital Management Inc. lifted its stake in MercadoLibre by 45.0% in the third quarter. Coldstream Capital Management Inc. now owns 699 shares of the company's stock valued at $1,634,000 after buying an additional 217 shares during the period. Avity Investment Management Inc. boosted its holdings in shares of MercadoLibre by 4.2% during the 3rd quarter. Avity Investment Management Inc. now owns 12,660 shares of the company's stock worth $29,586,000 after buying an additional 506 shares in the last quarter. Finally, Danske Bank A S bought a new position in shares of MercadoLibre during the 3rd quarter worth approximately $81,108,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on MELI shares. Itau BBA Securities reiterated an "outperform" rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Zacks Research raised shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a research note on Friday, February 6th. 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 report on Friday, February 27th. Weiss Ratings downgraded shares of MercadoLibre from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, January 8th. Finally, JPMorgan Chase & Co. lowered shares of MercadoLibre from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $2,650.00 to $2,100.00 in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $2,708.67.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,635.76 on Friday. MercadoLibre, Inc. has a twelve month low of $1,631.18 and a twelve month high of $2,645.22. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $82.93 billion, a P/E ratio of 41.52, a PEG ratio of 0.82 and a beta of 1.48. The stock's 50 day moving average is $1,948.16 and its 200 day moving average is $2,093.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The company had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period last year, the firm posted $12.61 earnings per share. The company's revenue was up 44.6% compared to the same quarter last year. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.

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