1,396 Shares in Mercadolibre Inc (NASDAQ:MELI) Purchased by Fiera Capital Corp

25 May 2020, 12:52 by Tristan Rich

Fiera Capital Corp acquired a new stake in Mercadolibre Inc (NASDAQ:MELI) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,396 shares of the company’s stock, valued at approximately $682,000.

A number of other hedge funds also recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. raised its position in Mercadolibre by 30.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 14,496 shares of the company’s stock valued at $7,361,000 after purchasing an additional 3,392 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Mercadolibre by 5.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,631 shares of the company’s stock valued at $5,508,000 after buying an additional 507 shares during the period. Lindbrook Capital LLC raised its holdings in shares of Mercadolibre by 100.0% in the fourth quarter. Lindbrook Capital LLC now owns 100 shares of the company’s stock valued at $57,000 after acquiring an additional 50 shares in the last quarter. Acorn Financial Advisory Services Inc. ADV purchased a new stake in Mercadolibre in the fourth quarter worth about $373,000. Finally, Deltec Asset Management LLC grew its holdings in Mercadolibre by 46.0% during the 4th quarter. Deltec Asset Management LLC now owns 4,695 shares of the company’s stock worth $2,685,000 after acquiring an additional 1,480 shares in the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.

In other news, Director Meyer Malka purchased 5,870 shares of the company’s stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $522.22 per share, for a total transaction of $3,065,431.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.40% of the stock is owned by corporate insiders.

MELI stock opened at $841.31 on Monday. The stock has a market capitalization of $41.82 billion, a PE ratio of -200.31 and a beta of 1.56. Mercadolibre Inc has a 52 week low of $422.22 and a 52 week high of $843.38. The company has a quick ratio of 2.22, a current ratio of 2.23 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $629.64 and a 200 day moving average of $604.84.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.04. Mercadolibre had a negative net margin of 8.28% and a negative return on equity of 5.29%. The business had revenue of $652.09 million during the quarter, compared to analysts’ expectations of $609.27 million. During the same quarter last year, the company posted $0.13 earnings per share. The business’s quarterly revenue was up 37.6% on a year-over-year basis. On average, equities research analysts expect that Mercadolibre Inc will post -1.33 earnings per share for the current year.

Several equities research analysts have recently weighed in on MELI shares. JPMorgan Chase & Co. upped their price target on shares of Mercadolibre from $800.00 to $1,000.00 in a research report on Wednesday, May 20th. Citigroup raised shares of Mercadolibre from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 6th. Barclays increased their target price on Mercadolibre from $620.00 to $810.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Credit Suisse Group reduced their price target on Mercadolibre from $760.00 to $720.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Finally, TheStreet upgraded Mercadolibre from a “d+” rating to a “c-” rating in a research note on Wednesday, May 13th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Mercadolibre has a consensus rating of “Buy” and a consensus price target of $733.40.

Mercadolibre Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.