Cibc World Market Inc. Decreases Holdings in MercadoLibre, Inc. $MELI

Cibc World Market Inc. cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 41.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,596 shares of the company’s stock after selling 1,816 shares during the quarter. Cibc World Market Inc.’s holdings in MercadoLibre were worth $5,229,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Intellectus Partners LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at $552,000. Sivia Capital Partners LLC increased its position in shares of MercadoLibre by 112.1% during the 4th quarter. Sivia Capital Partners LLC now owns 263 shares of the company’s stock valued at $530,000 after purchasing an additional 139 shares during the last quarter. Lido Advisors LLC increased its position in shares of MercadoLibre by 1.3% during the 4th quarter. Lido Advisors LLC now owns 4,108 shares of the company’s stock valued at $9,112,000 after purchasing an additional 51 shares during the last quarter. Avestar Capital LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at $439,000. Finally, Marble Wealth LLC purchased a new stake in shares of MercadoLibre during the 4th quarter valued at $407,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was acquired at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,607.80 on Monday. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,645.22. The business has a 50-day simple moving average of $1,720.81 and a two-hundred day simple moving average of $1,886.65. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The company has a market cap of $81.52 billion, a P/E ratio of 42.43, a P/E/G ratio of 0.99 and a beta of 1.36.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MELI shares. Benchmark decreased their target price on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. JPMorgan Chase & Co. decreased their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a report on Friday, May 8th. Finally, UBS Group decreased their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

About MercadoLibre

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.