MercadoLibre, Inc. $MELI Stock Holdings Raised by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 32.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,334 shares of the company’s stock after purchasing an additional 330 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in MercadoLibre were worth $2,248,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre during the 4th quarter worth about $28,000. Wedbush Fund Advisers LLC bought a new stake in MercadoLibre during the 2nd quarter valued at approximately $29,000. Twin Lakes Capital Management LLC bought a new stake in MercadoLibre during the 2nd quarter valued at approximately $31,000. Hanson & Doremus Investment Management bought a new stake in MercadoLibre during the 1st quarter valued at approximately $35,000. Finally, Markowski Investments acquired a new stake in MercadoLibre in the 2nd quarter valued at approximately $36,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,879.50 on Wednesday. The company’s fifty day moving average is $1,862.24 and its two-hundred day moving average is $1,786.81. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,428.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a market capitalization of $95.29 billion, a price-to-earnings ratio of 51.12, a P/E/G ratio of 1.29 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, August 6th. The company reported $9.19 EPS 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 analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.31 earnings per share. Equities research analysts forecast that MercadoLibre, Inc. will post 38.09 EPS for the current year.

Analyst Upgrades and Downgrades

MELI has been the topic of several recent analyst reports. Citigroup dropped their price target on MercadoLibre from $2,150.00 to $2,100.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a report on Tuesday, September 29th. BTIG Research reiterated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, September 3rd. Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. Finally, JPMorgan Chase & Co. increased their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2,251.88.

About MercadoLibre

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 initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre’s financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.