iA Global Asset Management Inc. Has $8.54 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

iA Global Asset Management Inc. boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,647 shares of the company’s stock after acquiring an additional 243 shares during the period. iA Global Asset Management Inc.’s holdings in MercadoLibre were worth $8,538,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. LBP AM SA boosted its position in MercadoLibre by 83.1% in the 1st quarter. LBP AM SA now owns 2,227 shares of the company’s stock valued at $3,367,000 after buying an additional 1,011 shares during the last quarter. Beacon Capital Management LLC increased its position in shares of MercadoLibre by 82.4% in the first quarter. Beacon Capital Management LLC now owns 62 shares of the company’s stock valued at $94,000 after acquiring an additional 28 shares during the last quarter. Comerica Bank increased its position in shares of MercadoLibre by 14.4% in the first quarter. Comerica Bank now owns 2,068 shares of the company’s stock valued at $3,127,000 after acquiring an additional 260 shares during the last quarter. Adalta Capital Management LLC grew its holdings in MercadoLibre by 25.6% during the first quarter. Adalta Capital Management LLC now owns 1,349 shares of the company’s stock worth $2,040,000 after purchasing an additional 275 shares during the period. Finally, California State Teachers Retirement System grew its holdings in MercadoLibre by 6.4% during the first quarter. California State Teachers Retirement System now owns 68,349 shares of the company’s stock worth $103,341,000 after purchasing an additional 4,089 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

Shares of MELI traded down $62.84 during mid-day trading on Thursday, reaching $1,606.06. The stock had a trading volume of 622,336 shares, compared to its average volume of 364,494. The firm has a market cap of $81.43 billion, a price-to-earnings ratio of 74.67, a PEG ratio of 1.20 and a beta of 1.60. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $1,825.00. The business has a fifty day moving average of $1,647.39 and a 200 day moving average of $1,619.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.25 and a current ratio of 1.27.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the business earned $3.97 earnings per share. MercadoLibre’s revenue for the quarter was up 36.0% on a year-over-year basis. Equities analysts predict that MercadoLibre, Inc. will post 33.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MELI. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and boosted their price target for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Barclays boosted their price target on MercadoLibre from $1,800.00 to $2,000.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Finally, UBS Group cut their price target on MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $1,936.82.

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.