BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 60.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,738 shares of the company’s stock after purchasing an additional 3,288 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in MercadoLibre were worth $14,360,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in MELI. First PREMIER Bank acquired a new position in MercadoLibre during the first quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the period. Scarborough Advisors LLC purchased a new stake in MercadoLibre in the 4th quarter valued at $36,000. Financial Connections Group Inc. acquired a new stake in MercadoLibre during the 2nd quarter worth $36,000. Finally, Transcendent Capital Group LLC purchased a new position in MercadoLibre during the 4th quarter worth $38,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent research reports. Susquehanna increased their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Citigroup lifted their target price on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Barclays upped their price target on MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Finally, BTIG Research raised their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,207.31.

MercadoLibre Stock Up 0.4 %

Shares of NASDAQ MELI opened at $2,111.00 on Wednesday. The firm’s 50-day moving average is $1,914.15 and its two-hundred day moving average is $1,700.96. The company has a market capitalization of $107.03 billion, a PE ratio of 94.45, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,157.64. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating 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 company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter in the prior year, the company posted $5.16 EPS. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. Equities analysts anticipate that MercadoLibre, Inc. will post 35.79 EPS for the current fiscal 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.