CANADA LIFE ASSURANCE Co Buys 3,427 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

CANADA LIFE ASSURANCE Co lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 9.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,027 shares of the company’s stock after purchasing an additional 3,427 shares during the period. CANADA LIFE ASSURANCE Co owned 0.08% of MercadoLibre worth $66,319,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Foster Dykema Cabot & Partners LLC raised its position in shares of MercadoLibre by 11,400.0% in the 4th quarter. Foster Dykema Cabot & Partners LLC now owns 115 shares of the company’s stock worth $196,000 after acquiring an additional 114 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in MercadoLibre in the fourth quarter worth $894,000. Garden State Investment Advisory Services LLC purchased a new stake in MercadoLibre in the fourth quarter worth $253,000. Marshall Wace LLP raised its holdings in MercadoLibre by 183.9% in the fourth quarter. Marshall Wace LLP now owns 151,234 shares of the company’s stock worth $257,164,000 after purchasing an additional 97,955 shares in the last quarter. Finally, Wasatch Advisors LP lifted its position in MercadoLibre by 1.2% during the fourth quarter. Wasatch Advisors LP now owns 149,794 shares of the company’s stock valued at $254,716,000 after buying an additional 1,825 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the topic of several research reports. The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research note on Monday, March 3rd. Citigroup reissued a “buy” rating on shares of MercadoLibre in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,650.00 to $2,560.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Finally, Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $2,415.94.

MercadoLibre Trading Up 1.7 %

Shares of MELI opened at $2,099.37 on Friday. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The company has a 50 day simple moving average of $2,042.00 and a two-hundred day simple moving average of $1,959.90. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The firm has a market cap of $106.43 billion, a P/E ratio of 55.69, a price-to-earnings-growth ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre 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.