CIBC Private Wealth Group LLC Purchases 655 Shares of MercadoLibre, Inc. $MELI

CIBC Private Wealth Group LLC raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,243 shares of the company’s stock after buying an additional 655 shares during the period. CIBC Private Wealth Group LLC owned about 0.13% of MercadoLibre worth $159,481,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bison Wealth LLC acquired a new stake in MercadoLibre during the 4th quarter valued at $206,000. Empowered Funds LLC boosted its stake in MercadoLibre by 6.9% in the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares in the last quarter. Focus Partners Wealth boosted its stake in MercadoLibre by 42.0% in the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of MercadoLibre during the second quarter worth $261,000. Finally, Geode Capital Management LLC grew its holdings in shares of MercadoLibre by 9.0% during the second quarter. Geode Capital Management LLC now owns 65,142 shares of the company’s stock worth $163,107,000 after purchasing an additional 5,361 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wedbush cut their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. BTIG Research lowered their price objective on shares of MercadoLibre from $2,750.00 to $2,650.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Finally, Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,725.33.

MercadoLibre Trading Down 0.2%

MELI stock opened at $1,728.14 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. MercadoLibre, Inc. has a twelve month low of $1,631.18 and a twelve month high of $2,645.22. The company has a market cap of $87.62 billion, a P/E ratio of 43.86, a PEG ratio of 0.93 and a beta of 1.48. The business has a fifty day moving average of $1,978.71 and a 200-day moving average of $2,104.96.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $11.66 by ($0.63). The firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. MercadoLibre’s revenue was up 44.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $12.61 EPS. As a group, equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.