CIBC Private Wealth Group LLC Has $159.48 Million Position in MercadoLibre, Inc. $MELI

CIBC Private Wealth Group LLC raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 68,243 shares of the company’s stock after acquiring an additional 655 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in MercadoLibre were worth $159,481,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MELI. Quadcap Wealth Management LLC lifted its stake in shares of MercadoLibre by 4.2% in the 2nd quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock valued at $324,000 after purchasing an additional 5 shares during the period. PFW Advisors LLC boosted its position in shares of MercadoLibre by 4.8% in the 3rd quarter. PFW Advisors LLC now owns 110 shares of the company’s stock worth $257,000 after purchasing an additional 5 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of MercadoLibre by 3.5% during the third quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock worth $344,000 after purchasing an additional 5 shares during the period. Wilkinson Global Asset Management LLC grew its stake in shares of MercadoLibre by 2.3% during the third quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock worth $528,000 after purchasing an additional 5 shares during the period. Finally, Hardy Reed LLC increased its holdings in MercadoLibre by 4.0% in the third quarter. Hardy Reed LLC now owns 131 shares of the company’s stock valued at $306,000 after purchasing an additional 5 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $1,728.14 on Wednesday. The stock’s fifty day simple moving average is $1,978.71 and its 200 day simple moving average is $2,104.96. The company has a current ratio of 1.17, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $87.62 billion, a PE ratio of 43.86, a PEG ratio of 0.93 and a beta of 1.48. MercadoLibre, Inc. has a 12 month low of $1,631.18 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The business had revenue of $8.76 billion during the quarter, compared to analyst estimates of $8.45 billion. During the same period in the previous year, the firm posted $12.61 earnings per share. The firm’s revenue was up 44.6% on a year-over-year basis. On average, research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

MELI has been the topic of several analyst reports. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. UBS Group lowered their price target on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a research note on Friday, February 27th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and cut their price target for the company from $2,650.00 to $2,100.00 in a research report on Thursday, March 12th. Finally, Wedbush reduced their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,725.33.

MercadoLibre 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.