Mercadolibre Inc (NASDAQ:MELI) Stock Holdings Trimmed by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its holdings in shares of Mercadolibre Inc (NASDAQ:MELI) by 36.2% during the 3rd quarter, Holdings Channel reports. The fund owned 5,731 shares of the company’s stock after selling 3,251 shares during the period. CIBC Private Wealth Group LLC’s holdings in Mercadolibre were worth $3,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. CENTRAL TRUST Co raised its stake in Mercadolibre by 62.5% during the 2nd quarter. CENTRAL TRUST Co now owns 52 shares of the company’s stock valued at $33,000 after acquiring an additional 20 shares in the last quarter. Perigon Wealth Management LLC raised its stake in shares of Mercadolibre by 2.6% in the 2nd quarter. Perigon Wealth Management LLC now owns 794 shares of the company’s stock worth $486,000 after buying an additional 20 shares in the last quarter. Reilly Financial Advisors LLC raised its stake in shares of Mercadolibre by 64.5% in the 3rd quarter. Reilly Financial Advisors LLC now owns 51 shares of the company’s stock worth $28,000 after buying an additional 20 shares in the last quarter. NEXT Financial Group Inc raised its stake in shares of Mercadolibre by 104.3% in the 2nd quarter. NEXT Financial Group Inc now owns 47 shares of the company’s stock worth $29,000 after buying an additional 24 shares in the last quarter. Finally, Moseley Investment Management Inc. raised its stake in shares of Mercadolibre by 4.6% in the 2nd quarter. Moseley Investment Management Inc. now owns 594 shares of the company’s stock worth $363,000 after buying an additional 26 shares in the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ MELI opened at $536.27 on Friday. The company has a quick ratio of 2.53, a current ratio of 2.54 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $27.30 billion, a price-to-earnings ratio of -653.99 and a beta of 1.67. The stock’s fifty day simple moving average is $559.86 and its 200 day simple moving average is $579.56. Mercadolibre Inc has a 52-week low of $257.52 and a 52-week high of $698.98.

Mercadolibre (NASDAQ:MELI) last issued its earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. The business had revenue of $545.24 million for the quarter, compared to analysts’ expectations of $507.68 million. Mercadolibre had a return on equity of 1.24% and a net margin of 0.87%. The company’s quarterly revenue was up 62.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.25) EPS. As a group, analysts anticipate that Mercadolibre Inc will post 0.57 earnings per share for the current year.

A number of research firms have recently commented on MELI. Piper Jaffray Companies boosted their price objective on Mercadolibre from $584.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. raised Mercadolibre from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $563.00 to $750.00 in a research note on Tuesday, August 13th. Barclays set a $700.00 price objective on Mercadolibre and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Deutsche Bank boosted their price objective on Mercadolibre from $600.00 to $725.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, Citigroup raised Mercadolibre from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $609.00 to $729.00 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $663.81.

About Mercadolibre

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

Further Reading: Different Types of Derivatives

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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