MercadoLibre, Inc. $MELI Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,049 shares of the company’s stock after selling 210 shares during the period. OMERS ADMINISTRATION Corp’s holdings in MercadoLibre were worth $7,969,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MELI. Norges Bank bought a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $698,848,000. Invesco Ltd. grew its stake in MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after buying an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after buying an additional 96,283 shares during the period. GQG Partners LLC lifted its stake in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after buying an additional 87,912 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock valued at $3,228,460,000 after acquiring an additional 81,124 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 2.4%

NASDAQ:MELI opened at $2,082.00 on Monday. The stock has a fifty day simple moving average of $2,184.85 and a 200 day simple moving average of $2,348.33. The firm has a market capitalization of $105.55 billion, a price-to-earnings ratio of 50.81, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The company had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. During the same quarter in the previous year, the firm posted $7.83 EPS. MercadoLibre’s quarterly revenue was up 39.5% on a year-over-year basis. Sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Susquehanna decreased their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. Benchmark lowered their target price on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Jefferies Financial Group reiterated a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, BTIG Research reissued a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Friday, November 14th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $2,848.82.

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.