Mackenzie Financial Corp Buys 590 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Mackenzie Financial Corp lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 50.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,765 shares of the company’s stock after buying an additional 590 shares during the period. Mackenzie Financial Corp’s holdings in MercadoLibre were worth $2,774,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. CWM LLC grew its holdings in shares of MercadoLibre by 10.5% during the 3rd quarter. CWM LLC now owns 912 shares of the company’s stock worth $1,157,000 after purchasing an additional 87 shares in the last quarter. AE Wealth Management LLC boosted its stake in MercadoLibre by 23.3% during the third quarter. AE Wealth Management LLC now owns 2,383 shares of the company’s stock worth $3,021,000 after buying an additional 451 shares in the last quarter. IFP Advisors Inc increased its holdings in MercadoLibre by 19.3% in the 3rd quarter. IFP Advisors Inc now owns 216 shares of the company’s stock valued at $274,000 after buying an additional 35 shares during the period. Traynor Capital Management Inc. acquired a new position in shares of MercadoLibre in the 3rd quarter valued at $306,000. Finally, Impact Partnership Wealth LLC lifted its holdings in shares of MercadoLibre by 118.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 35 shares of the company’s stock worth $44,000 after acquiring an additional 19 shares during the period. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MELI has been the topic of a number of analyst reports. Barclays dropped their price target on shares of MercadoLibre from $2,000.00 to $1,800.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Wedbush restated an “outperform” rating and set a $2,000.00 target price on shares of MercadoLibre in a research report on Tuesday, March 5th. Susquehanna boosted their price target on MercadoLibre from $1,850.00 to $2,000.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Finally, UBS Group reduced their target price on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,813.85.

MercadoLibre Stock Performance

MELI stock opened at $1,368.23 on Tuesday. The company has a 50 day moving average price of $1,552.54 and a 200 day moving average price of $1,528.67. MercadoLibre, Inc. has a fifty-two week low of $1,063.02 and a fifty-two week high of $1,825.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.27 and a quick ratio of 1.24. The stock has a market capitalization of $69.37 billion, a PE ratio of 70.02, a price-to-earnings-growth ratio of 0.87 and a beta of 1.44.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, February 22nd. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $6.66 by ($3.41). The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.14 billion. MercadoLibre had a return on equity of 39.07% and a net margin of 6.82%. The company’s revenue was up 42.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.25 EPS. Analysts forecast that MercadoLibre, Inc. will post 35.77 EPS for the current year.

About MercadoLibre

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.