Northwest & Ethical Investments L.P. Has $15.70 Million Stake in MercadoLibre, Inc. $MELI

Northwest & Ethical Investments L.P. reduced its position in MercadoLibre, Inc. (NASDAQ:MELI) by 7.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,005 shares of the company’s stock after selling 505 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in MercadoLibre were worth $15,695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. lifted its holdings in shares of MercadoLibre by 5.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 84,206 shares of the company’s stock worth $219,773,000 after acquiring an additional 4,565 shares during the period. MIG Capital LLC raised its position in MercadoLibre by 161.6% in the second quarter. MIG Capital LLC now owns 989 shares of the company’s stock worth $2,585,000 after purchasing an additional 611 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in MercadoLibre by 17.0% during the second quarter. J.W. Cole Advisors Inc. now owns 1,748 shares of the company’s stock worth $4,569,000 after purchasing an additional 254 shares during the period. FourThought Financial Partners LLC lifted its stake in MercadoLibre by 0.3% during the second quarter. FourThought Financial Partners LLC now owns 3,029 shares of the company’s stock worth $7,916,000 after purchasing an additional 8 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in MercadoLibre by 26.2% during the second quarter. Advisors Asset Management Inc. now owns 366 shares of the company’s stock valued at $957,000 after purchasing an additional 76 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Cantor Fitzgerald dropped their target price on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Susquehanna lowered their price target on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. Wedbush lifted their price objective on MercadoLibre from $2,700.00 to $2,800.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Jefferies Financial Group restated a “hold” rating and issued a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Citigroup lowered their target price on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,848.82.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,055.00 on Wednesday. The stock’s fifty day moving average is $2,209.38 and its 200-day moving average is $2,358.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a market capitalization of $104.18 billion, a PE ratio of 50.15, a PEG ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same period in the prior year, the firm earned $7.83 earnings per share. The business’s quarterly revenue was up 39.5% compared to the same quarter last year. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS 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.