National Bank of Canada FI Decreases Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

National Bank of Canada FI lessened its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 46.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 16,025 shares of the company’s stock after selling 13,867 shares during the period. National Bank of Canada FI’s holdings in MercadoLibre were worth $24,229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First PREMIER Bank purchased a new stake in MercadoLibre during the 1st quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in MercadoLibre in the fourth quarter worth $28,000. Archer Investment Corp purchased a new stake in MercadoLibre in the fourth quarter worth $31,000. Larson Financial Group LLC purchased a new stake in MercadoLibre in the fourth quarter worth $36,000. Finally, DSM Capital Partners LLC purchased a new stake in MercadoLibre in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent analyst reports. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. UBS Group cut their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and raised their price target for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. DZ Bank upgraded MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price target on the stock in a research note on Tuesday, April 23rd. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,922.08.

MercadoLibre Stock Up 1.2 %

NASDAQ MELI traded up $20.10 during trading on Thursday, hitting $1,662.65. The company’s stock had a trading volume of 126,804 shares, compared to its average volume of 364,196. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. The company has a market cap of $84.30 billion, a PE ratio of 73.49, a P/E/G ratio of 1.24 and a beta of 1.60. The business’s 50 day simple moving average is $1,659.22 and its 200-day simple moving average is $1,618.60. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $1,825.00.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.64 by $0.14. MercadoLibre had a return on equity of 39.46% and a net margin of 7.17%. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the business posted $3.97 earnings per share. The company’s revenue for the quarter was up 36.0% compared to the same quarter last year. On average, equities analysts anticipate that MercadoLibre, Inc. will post 33.81 EPS for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.