Vancity Investment Management Ltd Makes New $408,000 Investment in MercadoLibre, Inc. $MELI

Key Points

• Vancity Investment Management Ltd has acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI), purchasing 209 shares valued at approximately $408,000.
• The company's quarterly revenue increased by 33.8% year-over-year, with reported earnings per share of $10.31, missing estimates of $12.01.
• More than 87.62% of MercadoLibre's stock is owned by institutional investors, reflecting growing interest in the company within the financial sector.

Vancity Investment Management Ltd purchased a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 209 shares of the company's stock, valued at approximately $408,000.

Other large investors have also added to or reduced their stakes in the company. Banco Santander S.A. grew its stake in shares of MercadoLibre by 221.9% in the first quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock worth $5,357,000 after purchasing an additional 1,893 shares during the last quarter. Prospect Financial Services LLC lifted its holdings in MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock worth $663,000 after buying an additional 100 shares during the period. Stratos Investment Management LLC bought a new stake in shares of MercadoLibre in the 1st quarter worth approximately $203,000. JARISLOWSKY FRASER Ltd increased its stake 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 buying an additional 987 shares during the period. Finally, Avant Financial Advisors LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $316,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Down 0.5%

MELI stock traded down $10.79 on Thursday, reaching $2,338.20. 331,013 shares of the company traded hands, compared to its average volume of 330,152. The firm has a fifty day simple moving average of $2,391.71 and a 200-day simple moving average of $2,304.11. The company has a market cap of $118.55 billion, a P/E ratio of 57.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.49. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the prior year, the company posted $10.48 earnings per share. The company's revenue was up 33.8% on a year-over-year basis. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research analyst reports. UBS Group set a $3,000.00 price target on MercadoLibre in a research note on Monday, June 2nd. Barclays decreased their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Susquehanna reaffirmed a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. The Goldman Sachs Group increased their target price on 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, JPMorgan Chase & Co. lifted their price target on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.