Healthcare of Ontario Pension Plan Trust Fund Has $56.19 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 71.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,192 shares of the company’s stock after purchasing an additional 14,192 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in MercadoLibre were worth $56,191,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MELI. Orion Portfolio Solutions LLC increased its position in MercadoLibre by 8.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 489 shares of the company’s stock valued at $770,000 after acquiring an additional 39 shares during the period. Focus Financial Network Inc. ADV acquired a new stake in shares of MercadoLibre during the fourth quarter worth $212,000. Scotia Capital Inc. acquired a new stake in shares of MercadoLibre during the fourth quarter worth $226,000. Jones Financial Companies Lllp acquired a new stake in shares of MercadoLibre during the fourth quarter worth $225,000. Finally, The Manufacturers Life Insurance Company boosted its stake in MercadoLibre by 3.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 24,959 shares of the company’s stock worth $39,228,000 after acquiring an additional 898 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MELI. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Barclays raised their price target on shares of MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research report on Wednesday. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. BTIG Research raised their price target on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus price target of $2,246.07.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,970.72 on Thursday. The company has a 50 day moving average of $1,962.54 and a 200 day moving average of $1,721.79. The stock has a market cap of $99.91 billion, a P/E ratio of 88.18, a P/E/G ratio of 1.34 and a beta of 1.61. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,161.73. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 EPS for the quarter, beating the consensus estimate of $8.53 by $1.95. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. MercadoLibre’s revenue for the quarter was up 41.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.16 earnings per share. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 35.79 EPS 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.