Investment Management Corp of Ontario Sells 429 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Investment Management Corp of Ontario reduced its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 12.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,990 shares of the company's stock after selling 429 shares during the quarter. Investment Management Corp of Ontario's holdings in MercadoLibre were worth $5,084,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. grew its holdings in MercadoLibre by 16.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 10,304 shares of the company's stock valued at $17,521,000 after purchasing an additional 1,459 shares during the period. Janus Henderson Group PLC grew its holdings in shares of MercadoLibre by 1.5% in the 4th quarter. Janus Henderson Group PLC now owns 422,452 shares of the company's stock valued at $718,428,000 after buying an additional 6,278 shares during the period. JARISLOWSKY FRASER Ltd raised its stake in MercadoLibre by 43.6% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock worth $5,525,000 after buying an additional 987 shares during the period. Jefferies Financial Group Inc. lifted its holdings in MercadoLibre by 569.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 1,031 shares of the company's stock worth $1,753,000 after acquiring an additional 877 shares in the last quarter. Finally, Graham Capital Management L.P. grew its stake in MercadoLibre by 139.2% in the fourth quarter. Graham Capital Management L.P. now owns 586 shares of the company's stock valued at $996,000 after acquiring an additional 341 shares during the period. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on MELI. Bank of America raised their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Benchmark cut shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. Susquehanna upped their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. boosted their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a "neutral" rating in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $2,504.67.

MercadoLibre Stock Performance

NASDAQ:MELI traded up $29.61 on Wednesday, hitting $2,544.73. The company's stock had a trading volume of 85,778 shares, compared to its average volume of 381,225. MercadoLibre, Inc. has a one year low of $1,550.00 and a one year high of $2,561.68. The firm has a market capitalization of $129.01 billion, a P/E ratio of 67.36, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The stock has a fifty day moving average of $2,099.22 and a two-hundred day moving average of $1,988.40. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. During the same period in the previous year, the business posted $6.78 earnings per share. The company's revenue for the quarter was up 37.0% compared to the same quarter last year. Research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.