BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $15.62 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,614 shares of the company’s stock after selling 1,124 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in MercadoLibre were worth $15,624,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Planning Capital Management Corp boosted its position in MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares during the last quarter. Mount Lucas Management LP boosted its position in MercadoLibre by 3.6% during the third quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after purchasing an additional 5 shares during the last quarter. Belpointe Asset Management LLC boosted its position in MercadoLibre by 1.0% during the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after purchasing an additional 6 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in MercadoLibre by 0.4% during the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares during the last quarter. Finally, Evolutionary Tree Capital Management LLC boosted its position in MercadoLibre by 0.3% during the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after purchasing an additional 6 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,985.17 on Friday. The firm has a market cap of $100.65 billion, a P/E ratio of 70.05, a price-to-earnings-growth ratio of 1.35 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a 1-year low of $1,324.99 and a 1-year high of $2,161.73. The business’s 50 day moving average is $2,020.96 and its 200-day moving average is $1,868.92.

Analysts Set New Price Targets

Several research analysts recently commented on MELI shares. Barclays reduced their price target on MercadoLibre from $2,500.00 to $2,200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Bank of America upped their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Raymond James started coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Finally, Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,267.67.

About MercadoLibre

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.