CIBC Asset Management Inc lifted its position in Mercadolibre Inc (NASDAQ:MELI) by 6.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,252 shares of the company’s stock after buying an additional 145 shares during the quarter. CIBC Asset Management Inc’s holdings in Mercadolibre were worth $767,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in shares of Mercadolibre in the first quarter worth about $316,000. IFM Investors Pty Ltd lifted its position in shares of Mercadolibre by 43.9% in the second quarter. IFM Investors Pty Ltd now owns 1,968 shares of the company’s stock worth $588,000 after buying an additional 600 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in shares of Mercadolibre in the second quarter worth about $295,000. Nwam LLC lifted its position in shares of Mercadolibre by 195.0% in the second quarter. Nwam LLC now owns 2,555 shares of the company’s stock worth $764,000 after buying an additional 1,689 shares in the last quarter. Finally, Westpac Banking Corp lifted its position in shares of Mercadolibre by 9.8% in the second quarter. Westpac Banking Corp now owns 30,509 shares of the company’s stock worth $9,120,000 after buying an additional 2,716 shares in the last quarter. Institutional investors and hedge funds own 95.42% of the company’s stock.

Shares of MELI stock opened at $325.69 on Friday. Mercadolibre Inc has a 1 year low of $258.06 and a 1 year high of $417.91. The company has a current ratio of 1.62, a quick ratio of 1.15 and a debt-to-equity ratio of 1.62. The company has a market cap of $15.80 billion, a price-to-earnings ratio of 128.73 and a beta of 1.96.

Mercadolibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, November 1st. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.13). Mercadolibre had a negative net margin of 7.04% and a negative return on equity of 9.47%. The company had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $352.75 million. During the same quarter last year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities research analysts anticipate that Mercadolibre Inc will post -0.87 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on the company. Stifel Nicolaus boosted their target price on Mercadolibre from $360.00 to $380.00 and gave the stock a “hold” rating in a research report on Thursday, August 9th. Barclays boosted their target price on Mercadolibre from $365.00 to $375.00 and gave the stock an “overweight” rating in a research report on Thursday, August 9th. BidaskClub upgraded Mercadolibre from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. ValuEngine downgraded Mercadolibre from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 11th. Finally, Zacks Investment Research downgraded Mercadolibre from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $359.92.

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Mercadolibre Profile

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

Read More: Earnings Per Share (EPS) Explained

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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