Northwest & Ethical Investments L.P. Has $12.70 Million Position in MercadoLibre, Inc. $MELI

Key Points

• Northwest & Ethical Investments L.P. has reduced its stake in MercadoLibre, Inc. by 32.7% during the first quarter, resulting in ownership of 6,510 shares valued at approximately $12.7 million.
• Several hedge funds have recently made moves regarding MercadoLibre, with Close Asset Management Ltd increasing its position by 366.7% in the same quarter.
• Analysts maintain a positive outlook on MercadoLibre, with recent price targets ranging from $2,700 to $3,500 and an average rating of "Moderate Buy."

Northwest & Ethical Investments L.P. cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 32.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,510 shares of the company's stock after selling 3,156 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in MercadoLibre were worth $12,700,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banco Santander S.A. lifted its holdings in shares of MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock valued at $5,357,000 after acquiring an additional 1,893 shares during the period. Prospect Financial Services LLC lifted its holdings in shares of MercadoLibre by 41.7% during the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after acquiring an additional 100 shares during the period. Stratos Investment Management LLC bought a new position in shares of MercadoLibre during the first quarter valued at $203,000. JARISLOWSKY FRASER Ltd lifted its holdings in shares of MercadoLibre by 43.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after acquiring an additional 987 shares during the period. Finally, Avant Financial Advisors LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at $316,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 0.9%

MELI stock traded down $21.07 during midday trading on Tuesday, reaching $2,342.94. The stock had a trading volume of 343,407 shares, compared to its average volume of 362,042. The business has a fifty day simple moving average of $2,411.81 and a two-hundred day simple moving average of $2,267.19. 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 firm has a market cap of $118.79 billion, a price-to-earnings ratio of 57.86, a PEG ratio of 1.50 and a beta of 1.46. 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 announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.MercadoLibre's revenue for the quarter was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.48 earnings per share. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group set a $3,000.00 target price on MercadoLibre in a research note on Monday, June 2nd. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Wedbush set a $2,700.00 target price on MercadoLibre and gave the company an "outperform" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. raised their target price on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and an average price target of $2,817.22.

MercadoLibre Company 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.