Dixon Mitchell Investment Counsel Inc. Purchases 3,510 Shares of MercadoLibre, Inc. $MELI

Dixon Mitchell Investment Counsel Inc. boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 474.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,250 shares of the company’s stock after buying an additional 3,510 shares during the period. Dixon Mitchell Investment Counsel Inc.’s holdings in MercadoLibre were worth $8,561,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new position in MercadoLibre during the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre during the 4th quarter valued at about $26,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre during the 2nd quarter valued at about $29,000. Curio Wealth LLC acquired a new position in MercadoLibre during the 4th quarter valued at about $30,000. Finally, Holos Integrated Wealth LLC acquired a new position in MercadoLibre during the 4th quarter valued at about $32,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Scotiabank cut their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and cut their price target for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research note on Friday, May 8th. UBS Group cut their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Finally, Cantor Fitzgerald cut their target price on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

MercadoLibre Trading Down 1.3%

Shares of MELI stock opened at $1,589.60 on Friday. The company’s fifty day simple moving average is $1,715.68 and its two-hundred day simple moving average is $1,873.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The stock has a market capitalization of $80.59 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 0.98 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the firm earned $9.74 EPS. The company’s revenue was up 49.0% compared to the same quarter last year. As a group, analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

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.