Cibc World Markets Corp Has $5.42 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Cibc World Markets Corp decreased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 15.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,188 shares of the company's stock after selling 582 shares during the quarter. Cibc World Markets Corp's holdings in MercadoLibre were worth $5,421,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Nvwm LLC lifted its holdings in MercadoLibre by 0.5% during 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. Perigon Wealth Management LLC lifted its holdings in shares of MercadoLibre by 0.7% during the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company's stock worth $1,758,000 after buying an additional 7 shares in the last quarter. GPS Wealth Strategies Group LLC lifted its holdings in shares of MercadoLibre by 17.9% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company's stock worth $78,000 after buying an additional 7 shares in the last quarter. Savant Capital LLC lifted its holdings in shares of MercadoLibre by 2.3% during the fourth quarter. Savant Capital LLC now owns 308 shares of the company's stock worth $524,000 after buying an additional 7 shares in the last quarter. Finally, Personal CFO Solutions LLC lifted its holdings in shares of MercadoLibre by 1.6% during the fourth quarter. Personal CFO Solutions LLC now owns 452 shares of the company's stock worth $769,000 after buying an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

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Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MELI. Wedbush dropped their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a report on Monday, January 6th. Barclays lifted their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Susquehanna raised their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Finally, New Street Research upgraded MercadoLibre from a "neutral" rating to a "buy" rating and raised their price target for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Two equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $2,402.81.

MercadoLibre Price Performance

MercadoLibre stock traded up $27.70 during midday trading on Friday, reaching $2,095.27. The company's stock had a trading volume of 441,808 shares, compared to its average volume of 363,609. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. 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 50-day moving average price of $1,997.59 and a 200-day moving average price of $1,970.80. The stock has a market cap of $106.22 billion, a PE ratio of 55.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results 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 firm had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. On average, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre 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.