Toronto Dominion Bank Trims Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Toronto Dominion Bank trimmed its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,705 shares of the company’s stock after selling 21 shares during the period. Toronto Dominion Bank’s holdings in MercadoLibre were worth $7,732,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MELI. First PREMIER Bank acquired a new stake in shares of MercadoLibre during the first quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. increased its position in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the period. Scarborough Advisors LLC purchased a new stake in MercadoLibre in the fourth quarter valued at approximately $36,000. Financial Connections Group Inc. acquired a new stake in shares of MercadoLibre in the second quarter valued at approximately $36,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at $38,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on MELI. Bank of America increased their price target on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Barclays raised their price target on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $2,530.00 target price on shares of MercadoLibre in a report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,217.50.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,064.71 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,161.73. The firm has a market capitalization of $104.67 billion, a P/E ratio of 92.38, a PEG ratio of 1.34 and a beta of 1.61. The company’s fifty day moving average is $1,941.21 and its two-hundred day moving average is $1,710.31.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the previous year, the firm earned $5.16 earnings per share. The firm’s revenue was up 41.5% on a year-over-year basis. Analysts forecast that MercadoLibre, Inc. will post 35.79 EPS for the current fiscal year.

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.