CI Investments Inc. Acquires 4,557 Shares of MercadoLibre, Inc. $MELI

CI Investments Inc. boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 8.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,231 shares of the company’s stock after acquiring an additional 4,557 shares during the quarter. CI Investments Inc. owned about 0.12% of MercadoLibre worth $104,141,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC bought a new position in shares of MercadoLibre during the 4th quarter valued at approximately $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre during the 4th quarter valued at $28,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre in the second quarter worth $29,000. Finally, Curio Wealth LLC purchased a new position in MercadoLibre during the fourth quarter worth $30,000. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 0.5%

NASDAQ:MELI opened at $1,822.65 on Wednesday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a market cap of $92.41 billion, a price-to-earnings ratio of 48.10, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35. The stock has a fifty day simple moving average of $1,692.28 and a 200-day simple moving average of $1,818.66. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The company had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.74 earnings per share. Analysts anticipate that MercadoLibre, Inc. will post 41 EPS for the current year.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MELI has been the topic of several recent analyst reports. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research note on Friday, May 8th. Cantor Fitzgerald cut their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. Citigroup increased their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, UBS Group decreased their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,258.67.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.