iA Global Asset Management Inc. Increases Holdings in MercadoLibre, Inc. $MELI

iA Global Asset Management Inc. boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,302 shares of the company’s stock after acquiring an additional 432 shares during the quarter. iA Global Asset Management Inc.’s holdings in MercadoLibre were worth $12,694,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. grew its holdings in MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares during the period. Capital Research Global Investors boosted its stake in shares of MercadoLibre by 3.4% in the third quarter. Capital Research Global Investors now owns 1,816,092 shares of the company’s stock worth $4,244,604,000 after acquiring an additional 59,838 shares during the last quarter. Capital World Investors boosted its stake in shares of MercadoLibre by 1.3% in the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock worth $4,067,194,000 after acquiring an additional 22,659 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of MercadoLibre by 9.8% in the third quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock worth $1,432,565,000 after acquiring an additional 50,893 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in shares of MercadoLibre by 0.4% in the third quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock worth $1,244,447,000 after acquiring an additional 1,833 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Itau BBA Securities reaffirmed an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Barclays lowered their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. UBS Group lowered their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday. Morgan Stanley lowered their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Finally, Wedbush reduced their price objective on 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,546.81 on Friday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22. The company has a market cap of $78.42 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 0.92 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.16. The business’s 50 day moving average price is $1,734.98 and its 200 day moving average price is $1,945.43.

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