CI Investments Inc. Purchases 4,557 Shares of MercadoLibre, Inc. $MELI

CI Investments Inc. grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 8.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,231 shares of the company’s stock after buying an additional 4,557 shares during the quarter. CI Investments Inc.’s holdings in MercadoLibre were worth $104,141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bison Wealth LLC purchased a new position in MercadoLibre during the 4th quarter valued at about $206,000. Empowered Funds LLC raised its holdings in shares of MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after purchasing an additional 49 shares in the last quarter. Focus Partners Wealth lifted its position in shares of MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $261,000. Finally, Gamco Investors INC. ET AL lifted its position in shares of MercadoLibre by 21.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after purchasing an additional 30 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MELI shares. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. The Goldman Sachs Group set a $2,100.00 target price on MercadoLibre in a report on Wednesday, May 13th. Morgan Stanley dropped their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a report on Friday, May 8th. Finally, Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and reduced their price target for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, MercadoLibre presently has an average rating of “Moderate Buy” and an average price target of $2,258.67.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,822.65 on Wednesday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The company has a market cap of $92.41 billion, a PE ratio of 48.10, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35. The company’s 50 day moving average is $1,692.28 and its 200 day moving average is $1,818.66.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business’s revenue was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.74 earnings per share. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 41 EPS for the current year.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by company insiders.

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.