Cibc World Markets Corp Makes New Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Cibc World Markets Corp bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI – Get Rating) during the fourth quarter, Holdings Channel reports. The fund bought 598 shares of the company’s stock, valued at approximately $506,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in MercadoLibre by 8.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 75,995 shares of the company’s stock worth $64,775,000 after acquiring an additional 6,062 shares during the last quarter. First Trust Advisors LP grew its holdings in MercadoLibre by 8.5% during the 4th quarter. First Trust Advisors LP now owns 15,870 shares of the company’s stock worth $13,430,000 after acquiring an additional 1,239 shares during the last quarter. Knuff & Co LLC grew its holdings in MercadoLibre by 1.4% during the 4th quarter. Knuff & Co LLC now owns 3,606 shares of the company’s stock worth $3,052,000 after acquiring an additional 49 shares during the last quarter. Achmea Investment Management B.V. grew its holdings in MercadoLibre by 65.1% during the 4th quarter. Achmea Investment Management B.V. now owns 4,708 shares of the company’s stock worth $3,733,000 after acquiring an additional 1,857 shares during the last quarter. Finally, Huntington National Bank grew its holdings in MercadoLibre by 28.6% during the 4th quarter. Huntington National Bank now owns 45 shares of the company’s stock worth $38,000 after acquiring an additional 10 shares during the last quarter. 80.49% of the stock is owned by institutional investors.

MercadoLibre Stock Down 1.6 %

MercadoLibre stock opened at $1,310.88 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 1.23. MercadoLibre, Inc. has a 12-month low of $600.68 and a 12-month high of $1,337.75. The firm’s fifty day moving average is $1,257.89 and its 200 day moving average is $1,101.74. The company has a market capitalization of $65.82 billion, a PE ratio of 107.36, a PEG ratio of 1.69 and a beta of 1.57.

MercadoLibre (NASDAQ:MELI – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $3.97 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.93. MercadoLibre had a net margin of 5.46% and a return on equity of 34.92%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the company posted $1.30 earnings per share. The business’s revenue was up 35.1% on a year-over-year basis. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 16.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other MercadoLibre news, Director Emiliano Calemzuk sold 150 shares of the company’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $1,256.00, for a total transaction of $188,400.00. Following the transaction, the director now owns 115 shares in the company, valued at $144,440. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MELI. Morgan Stanley upped their price objective on shares of MercadoLibre from $1,620.00 to $1,770.00 in a research note on Friday, March 31st. TheStreet raised shares of MercadoLibre from a “c” rating to a “b-” rating in a research note on Wednesday, February 15th. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,600.00 to $1,700.00 in a research note on Monday, May 8th. Citigroup upped their price objective on shares of MercadoLibre from $1,100.00 to $1,460.00 in a research note on Friday, March 3rd. Finally, Bank of America upped their price objective on shares of MercadoLibre from $1,400.00 to $1,680.00 and gave the company a “buy” rating in a research note on Thursday, April 13th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus target price of $1,480.50.

MercadoLibre Company Profile

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MercadoLibre, Inc engages in the development of an online commerce platform with a focus on e-commerce and related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, and Other Countries. The Other Countries segment includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Bolivia, Honduras, Nicaragua, El Salvador, Guatemala, Paraguay, Uruguay, and the United States of America.