MercadoLibre, Inc. (NASDAQ:MELI) Holdings Raised by Mackenzie Financial Corp

Mackenzie Financial Corp increased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 48.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 497 shares of the company's stock after acquiring an additional 162 shares during the quarter. Mackenzie Financial Corp's holdings in MercadoLibre were worth $845,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Oppenheimer & Co. Inc. grew its holdings in shares of MercadoLibre by 11.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company's stock worth $2,328,000 after buying an additional 143 shares in the last quarter. Ninety One North America Inc. purchased a new position in MercadoLibre in the fourth quarter valued at approximately $4,923,000. Paragon Capital Management Inc. grew its position in shares of MercadoLibre by 58.5% during the fourth quarter. Paragon Capital Management Inc. now owns 1,637 shares of the company's stock worth $2,784,000 after acquiring an additional 604 shares during the last quarter. Vinland Capital Management Gestora de Recursos LTDA. acquired a new stake in MercadoLibre in the fourth quarter valued at $63,613,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in MercadoLibre in the fourth quarter valued at $2,619,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MELI. Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday. The Goldman Sachs Group boosted their target price on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Susquehanna lifted their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. Finally, Bank of America lifted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $2,588.00.

MercadoLibre Stock Up 0.3%

NASDAQ MELI traded up $7.78 on Thursday, reaching $2,581.74. The company had a trading volume of 238,517 shares, compared to its average volume of 380,910. The firm has a market capitalization of $130.89 billion, a PE ratio of 68.48, a P/E/G ratio of 1.12 and a beta of 1.61. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,635.88. The firm has a 50-day moving average of $2,276.98 and a 200-day moving average of $2,057.63. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. MercadoLibre's quarterly revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the company posted $6.78 EPS. On average, equities research analysts anticipate 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.