Connor Clark & Lunn Investment Management Ltd. Buys Shares of 133 MercadoLibre, Inc. $MELI

Key Points

• Connor Clark & Lunn Investment Management Ltd. has invested approximately $259,000 in MercadoLibre, acquiring 133 shares of the stock during the first quarter.
• Analysts have a consensus rating of "Moderate Buy" for MercadoLibre, with a price target averaging $2,817.22, while the stock recently traded at $2,335.98.
• The company's earnings report indicated a missing EPS estimate of $10.31 compared to the consensus of $12.01, though revenue increased year-over-year by 33.8%.

Connor Clark & Lunn Investment Management Ltd. bought a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 133 shares of the company's stock, valued at approximately $259,000.

Several other hedge funds also recently bought and sold shares of the company. Townsquare Capital LLC boosted its holdings in MercadoLibre by 16.1% in the 1st quarter. Townsquare Capital LLC now owns 3,434 shares of the company's stock worth $6,699,000 after buying an additional 477 shares during the period. Forsta AP Fonden boosted its holdings in shares of MercadoLibre by 5.2% during the 1st quarter. Forsta AP Fonden now owns 10,100 shares of the company's stock valued at $19,704,000 after purchasing an additional 500 shares during the last quarter. Nutshell Asset Management Ltd bought a new position in shares of MercadoLibre during the 1st quarter valued at about $1,327,000. Wambolt & Associates LLC boosted its holdings in shares of MercadoLibre by 17.2% during the 1st quarter. Wambolt & Associates LLC now owns 143 shares of the company's stock valued at $274,000 after purchasing an additional 21 shares during the last quarter. Finally, WBH Advisory Inc. raised its position in shares of MercadoLibre by 1.9% during the 1st quarter. WBH Advisory Inc. now owns 541 shares of the company's stock valued at $1,055,000 after buying an additional 10 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MELI. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research report on Monday, June 2nd. Scotiabank initiated coverage on shares of MercadoLibre in a research report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price objective on the stock. The Goldman Sachs Group increased their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Finally, Susquehanna restated a "positive" rating and issued a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. One research 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 company's stock. According to data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and an average target price of $2,817.22.

MercadoLibre Stock Up 4.0%

Shares of NASDAQ MELI traded up $93.18 during midday trading on Friday, reaching $2,430.62. 436,058 shares of the company's stock traded hands, compared to its average volume of 369,414. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The stock's 50 day simple moving average is $2,411.33 and its 200-day simple moving average is $2,275.89. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a market cap of $123.23 billion, a price-to-earnings ratio of 60.03, a P/E/G ratio of 1.58 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 analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the prior year, the business posted $10.48 earnings per share. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. On average, analysts predict that MercadoLibre, Inc. will post 43.96 EPS 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.