TD Waterhouse Canada Inc. Boosts Stock Holdings in MercadoLibre, Inc. $MELI

TD Waterhouse Canada Inc. raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 103.7% in the second quarter, Holdings Channel.com reports. The fund owned 1,004 shares of the company’s stock after acquiring an additional 511 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in MercadoLibre were worth $1,864,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the second quarter worth approximately $29,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre during the 4th quarter worth $28,000. Curio Wealth LLC purchased a new stake in shares of MercadoLibre during the fourth quarter worth $30,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of MercadoLibre during the third quarter worth $35,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MELI shares. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Citigroup upped their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a report on Thursday, September 3rd. Cantor Fitzgerald raised their target price on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, UBS Group lowered their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,272.00.

MercadoLibre Stock Down 2.6%

Shares of MELI opened at $1,926.25 on Wednesday. The company’s 50-day moving average price is $1,869.91 and its 200 day moving average price is $1,768.88. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The firm has a market cap of $97.66 billion, a P/E ratio of 52.39, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period last year, the business earned $10.31 earnings per share. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.