CIBC Private Wealth Group LLC reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,422 shares of the company’s stock after selling 281 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.05% of MercadoLibre worth $22,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in MELI. Raymond James Trust N.A. acquired a new position in MercadoLibre during the 1st quarter valued at about $236,000. Cibc World Market Inc. increased its position in MercadoLibre by 6.1% during the 1st quarter. Cibc World Market Inc. now owns 659 shares of the company’s stock valued at $784,000 after buying an additional 38 shares in the last quarter. Dimensional Fund Advisors LP increased its position in MercadoLibre by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 189 shares of the company’s stock valued at $225,000 after buying an additional 15 shares in the last quarter. Blair William & Co. IL increased its position in MercadoLibre by 10.1% during the 1st quarter. Blair William & Co. IL now owns 2,878 shares of the company’s stock valued at $3,423,000 after buying an additional 264 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in MercadoLibre by 25.1% during the 1st quarter. Cetera Investment Advisers now owns 1,048 shares of the company’s stock valued at $1,247,000 after buying an additional 210 shares in the last quarter. 80.49% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Credit Suisse Group increased their price objective on MercadoLibre from $1,450.00 to $1,685.00 and gave the company an “outperform” rating in a report on Tuesday, February 21st. Citigroup increased their price objective on MercadoLibre from $1,100.00 to $1,460.00 in a report on Friday, March 3rd. BTIG Research increased their price objective on MercadoLibre from $1,245.00 to $1,400.00 and gave the company a “buy” rating in a report on Friday, February 24th. Barclays increased their price objective on MercadoLibre from $1,250.00 to $1,475.00 and gave the company an “overweight” rating in a report on Friday, February 24th. Finally, TheStreet raised MercadoLibre from a “c” rating to a “b-” rating in a report on Wednesday, February 15th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $1,305.00.
MercadoLibre Stock Up 4.5 %
MercadoLibre (NASDAQ:MELI – Get Rating) last issued its earnings results on Thursday, February 23rd. The company reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $1.14. MercadoLibre had a return on equity of 29.09% and a net margin of 4.57%. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the business earned ($0.92) earnings per share. The company’s revenue was up 40.8% compared to the same quarter last year. On average, sell-side analysts predict that MercadoLibre, Inc. will post 15.78 EPS for the current year.
Insiders Place Their Bets
In other MercadoLibre news, Director Emiliano Calemzuk sold 150 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $1,256.00, for a total transaction of $188,400.00. Following the transaction, the director now owns 115 shares in the company, valued at $144,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by company insiders.
MercadoLibre Profile
MercadoLibre, Inc engages in the development of an online commerce platform with a focus on e-commerce and related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, and Other Countries. The Other Countries segment includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Bolivia, Honduras, Nicaragua, El Salvador, Guatemala, Paraguay, Uruguay, and the United States of America.
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