CIBC Asset Management Inc Raises Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

CIBC Asset Management Inc raised its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,075 shares of the company's stock after acquiring an additional 408 shares during the quarter. CIBC Asset Management Inc's holdings in MercadoLibre were worth $15,431,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Planning Capital Management Corp boosted its position in shares of MercadoLibre by 9.1% during the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the company's stock valued at $123,000 after acquiring an additional 5 shares during the last quarter. Mount Lucas Management LP raised its stake in MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company's stock worth $293,000 after purchasing an additional 5 shares during the period. Strategic Blueprint LLC boosted its holdings in MercadoLibre by 0.9% in the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company's stock valued at $1,350,000 after purchasing an additional 6 shares during the last quarter. Nvwm LLC boosted its holdings in MercadoLibre by 0.5% in the 4th quarter. Nvwm LLC now owns 1,137 shares of the company's stock valued at $1,933,000 after purchasing an additional 6 shares during the last quarter. Finally, NBC Securities Inc. grew its stake in shares of MercadoLibre by 35.0% in the 3rd quarter. NBC Securities Inc. now owns 27 shares of the company's stock valued at $55,000 after buying an additional 7 shares during the period. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Up 7.1 %

Shares of MELI stock traded up $149.53 during trading hours on Friday, reaching $2,260.00. 1,256,768 shares of the stock were exchanged, compared to its average volume of 371,354. The business's fifty day moving average is $1,867.29 and its two-hundred day moving average is $1,956.30. The firm has a market capitalization of $114.58 billion, a P/E ratio of 79.75, a P/E/G ratio of 1.10 and a beta of 1.62. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating analysts' consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 7.57% and a return on equity of 40.71%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. As a group, research analysts expect that MercadoLibre, Inc. will post 32.98 EPS for the current fiscal year.

Insider Activity at MercadoLibre

In related news, Director Emiliano Calemzuk sold 50 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the completion of the sale, the director now owns 238 shares in the company, valued at $472,425.24. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent analyst reports. BTIG Research cut their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. 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 report on Friday. Wedbush lowered their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research note on Monday, January 6th. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Finally, Susquehanna increased their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $2,364.06.

About MercadoLibre

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.