Toronto Dominion Bank Raises Position in MercadoLibre, Inc. (NASDAQ:MELI)

Toronto Dominion Bank lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 9.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,533 shares of the company's stock after acquiring an additional 566 shares during the period. Toronto Dominion Bank's holdings in MercadoLibre were worth $11,109,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MELI. Steadfast Capital Management LP purchased a new position in MercadoLibre in the 4th quarter worth $10,842,000. Snowden Capital Advisors LLC increased its holdings in shares of MercadoLibre by 5.3% in the fourth quarter. Snowden Capital Advisors LLC now owns 906 shares of the company's stock valued at $1,541,000 after purchasing an additional 46 shares during the period. Siemens Fonds Invest GmbH raised its stake in shares of MercadoLibre by 480.4% in the fourth quarter. Siemens Fonds Invest GmbH now owns 11,886 shares of the company's stock worth $20,211,000 after purchasing an additional 9,838 shares during the last quarter. Skye Global Management LP lifted its holdings in shares of MercadoLibre by 113.0% during the fourth quarter. Skye Global Management LP now owns 7,200 shares of the company's stock worth $12,243,000 after purchasing an additional 3,820 shares during the period. Finally, Silvercrest Asset Management Group LLC lifted its holdings in shares of MercadoLibre by 8.6% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 7,488 shares of the company's stock worth $12,732,000 after purchasing an additional 596 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MELI. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a report on Tuesday, April 15th. Barclays increased their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Cantor Fitzgerald reduced their target price on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Finally, Bank of America increased their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $2,572.86.

MercadoLibre Price Performance

Shares of MELI stock traded down $98.18 during mid-day trading on Monday, hitting $2,507.83. 502,270 shares of the stock were exchanged, compared to its average volume of 383,444. MercadoLibre, Inc. has a 52-week low of $1,550.00 and a 52-week high of $2,635.88. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The company has a market cap of $127.14 billion, a PE ratio of 66.52, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The firm has a fifty day moving average of $2,190.01 and a 200 day moving average of $2,018.86.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.78 EPS. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.