MercadoLibre, Inc. (NASDAQ:MELI) Shares Acquired by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its holdings in MercadoLibre by 250.1%, acquiring 1,243 additional shares during the first quarter, bringing its total to 1,740 shares valued at approximately $3.4 million.
• JPMorgan raised its price target for MercadoLibre shares from $2,250.00 to $2,600.00, while overall analyst ratings reflect a consensus of "Moderate Buy" with a price target of $2,707.50.
• MercadoLibre reported a quarterly earnings per share (EPS) of $9.74, exceeding analysts' expectations by $1.92, along with a 37% increase in revenue year-over-year.

Mackenzie Financial Corp raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 250.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,740 shares of the company's stock after purchasing an additional 1,243 shares during the quarter. Mackenzie Financial Corp's holdings in MercadoLibre were worth $3,395,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Key Financial Inc acquired a new stake in shares of MercadoLibre during the 1st quarter worth about $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre in the 1st quarter valued at $25,000. Park Square Financial Group LLC purchased a new position in shares of MercadoLibre during the 4th quarter worth $26,000. Covestor Ltd acquired a new stake in shares of MercadoLibre during the fourth quarter worth $27,000. Finally, Close Asset Management Ltd boosted its holdings in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Up 0.8%

MELI traded up $19.91 during trading on Monday, hitting $2,395.83. The company had a trading volume of 557,159 shares, compared to its average volume of 390,466. The business has a 50-day moving average of $2,455.84 and a 200-day moving average of $2,229.19. The company has a market cap of $121.47 billion, a PE ratio of 58.92, a P/E/G ratio of 1.41 and a beta of 1.46. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. During the same period last year, the business earned $10.48 EPS. The company's quarterly revenue was up 33.8% on a year-over-year basis. As a group, analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the topic of a number of research analyst reports. Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. UBS Group set a $3,000.00 target price on shares of MercadoLibre in a report on Monday, June 2nd. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Susquehanna restated a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $2,707.50.

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.