Bank of Montreal Can Acquires 2,750 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Bank of Montreal Can lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 17.1% in the fourth quarter, HoldingsChannel reports. The fund owned 18,809 shares of the company’s stock after buying an additional 2,750 shares during the period. Bank of Montreal Can’s holdings in MercadoLibre were worth $31,984,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Human Investing LLC bought a new stake in MercadoLibre in the fourth quarter worth $26,000. Pacific Capital Wealth Advisors Inc. increased its holdings in shares of MercadoLibre by 220.0% in the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares during the period. Brown Lisle Cummings Inc. lifted its stake in shares of MercadoLibre by 100.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter valued at about $32,000. Finally, Mather Group LLC. grew its position in MercadoLibre by 171.4% during the 4th quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after acquiring an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays boosted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Wedbush dropped their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Susquehanna increased their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Finally, Bank of America boosted their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $2,409.69.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,933.99 on Friday. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The firm has a market capitalization of $98.05 billion, a P/E ratio of 51.30, a P/E/G ratio of 1.12 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $2,035.55 and a two-hundred day simple moving average of $1,959.84.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. On average, equities analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal 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.