MercadoLibre, Inc. $MELI Shares Bought by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 32.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,334 shares of the company’s stock after purchasing an additional 330 shares during the period. TD Waterhouse Canada Inc.’s holdings in MercadoLibre were worth $2,248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Banque Pictet & Cie SA lifted its position in MercadoLibre by 44.2% in the third quarter. Banque Pictet & Cie SA now owns 20,293 shares of the company’s stock worth $35,077,000 after purchasing an additional 6,220 shares during the period. Shelton Wealth Management LLC increased its holdings in MercadoLibre by 4.9% in the 3rd quarter. Shelton Wealth Management LLC now owns 1,170 shares of the company’s stock valued at $2,022,000 after buying an additional 55 shares during the period. Chemistry Wealth Management LLC increased its holdings in MercadoLibre by 47.2% in the 3rd quarter. Chemistry Wealth Management LLC now owns 1,175 shares of the company’s stock valued at $2,032,000 after buying an additional 377 shares during the period. Paragon Capital Management Inc. increased its holdings in MercadoLibre by 1.7% in the 3rd quarter. Paragon Capital Management Inc. now owns 1,142 shares of the company’s stock valued at $1,974,000 after buying an additional 19 shares during the period. Finally, SLT Holdings LLC bought a new stake in MercadoLibre in the 3rd quarter valued at $458,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MELI shares. Cantor Fitzgerald dropped their price objective on shares of MercadoLibre from $2,300.00 to $2,200.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Citigroup decreased their target price on shares of 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. Susquehanna lifted their target price on shares of MercadoLibre to $2,400.00 and gave the company a “positive” rating in a research report on Tuesday, October 6th. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, New Street Research began coverage on shares of MercadoLibre in a research note on Wednesday, September 23rd. They issued a “buy” rating and a $2,450.00 target price on the stock. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,251.88.

MercadoLibre Trading Up 2.2%

Shares of MELI opened at $1,879.50 on Wednesday. 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 stock has a market cap of $95.29 billion, a PE ratio of 51.12, a PEG ratio of 1.29 and a beta of 1.31. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,428.00. The stock has a 50 day simple moving average of $1,862.24 and a 200-day simple moving average of $1,786.81.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, beating the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the previous year, the firm earned $10.31 EPS. MercadoLibre’s quarterly revenue was up 49.8% on a year-over-year basis. On average, sell-side analysts predict that MercadoLibre, Inc. will post 38.09 EPS for the current fiscal year.

MercadoLibre 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 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.