Canada Post Corp Registered Pension Plan Sells 515 Shares of MercadoLibre, Inc. $MELI

Canada Post Corp Registered Pension Plan lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 27.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,346 shares of the company’s stock after selling 515 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in MercadoLibre were worth $2,711,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in MercadoLibre by 803.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock valued at $671,665,000 after acquiring an additional 296,543 shares during the last quarter. Flossbach Von Storch SE lifted its stake in MercadoLibre by 1,669.4% during the third quarter. Flossbach Von Storch SE now owns 181,719 shares of the company’s stock worth $424,666,000 after purchasing an additional 171,449 shares during the last quarter. Baillie Gifford & Co. lifted its stake in MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after purchasing an additional 164,120 shares during the last quarter. Wellington Management Group LLP lifted its stake in MercadoLibre by 28.4% during the third quarter. Wellington Management Group LLP now owns 493,770 shares of the company’s stock worth $1,153,911,000 after purchasing an additional 109,228 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of MercadoLibre by 29.0% in the 3rd quarter. Franklin Resources Inc. now owns 418,002 shares of the company’s stock valued at $976,846,000 after purchasing an additional 93,854 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,546.81 on Monday. The company has a 50 day simple moving average of $1,734.98 and a 200 day simple moving average of $1,943.06. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The firm has a market cap of $78.42 billion, a PE ratio of 40.82, a price-to-earnings-growth ratio of 0.95 and a beta of 1.41.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the company posted $9.74 earnings per share. The company’s revenue was up 49.0% compared to the same quarter last year. On average, research analysts forecast that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Analysts Set New Price Targets

MELI has been the topic of several recent analyst reports. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Itau BBA Securities reiterated an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Wedbush cut their target price on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Benchmark cut their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Daiwa Securities Group lowered shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price on the stock. in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

About MercadoLibre

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.