Toronto Dominion Bank Purchases 473 Shares of Mercadolibre Inc (MELI)

Toronto Dominion Bank increased its position in Mercadolibre Inc (NASDAQ:MELI) by 11.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,655 shares of the company’s stock after acquiring an additional 473 shares during the quarter. Toronto Dominion Bank’s holdings in Mercadolibre were worth $1,585,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MELI. Morgan Stanley increased its position in Mercadolibre by 3.2% during the 2nd quarter. Morgan Stanley now owns 1,493,446 shares of the company’s stock valued at $446,435,000 after purchasing an additional 46,076 shares during the period. FMR LLC increased its position in Mercadolibre by 35.7% during the 2nd quarter. FMR LLC now owns 1,454,121 shares of the company’s stock valued at $434,680,000 after purchasing an additional 382,384 shares during the period. Waddell & Reed Financial Inc. increased its position in Mercadolibre by 11.4% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 954,079 shares of the company’s stock valued at $285,203,000 after purchasing an additional 97,369 shares during the period. OppenheimerFunds Inc. increased its position in Mercadolibre by 310.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 487,664 shares of the company’s stock valued at $145,778,000 after purchasing an additional 368,989 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Mercadolibre by 19.4% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 427,384 shares of the company’s stock valued at $145,511,000 after purchasing an additional 69,386 shares during the period. 91.40% of the stock is owned by institutional investors.

Shares of MELI stock opened at $309.82 on Monday. The company has a market cap of $14.00 billion, a PE ratio of 122.46 and a beta of 1.96. Mercadolibre Inc has a 52 week low of $263.71 and a 52 week high of $417.91. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.62 and a quick ratio of 1.61.

Mercadolibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, November 1st. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.13). Mercadolibre had a negative return on equity of 9.47% and a negative net margin of 7.04%. The company had revenue of $355.30 million for the quarter, compared to analyst estimates of $352.75 million. During the same period last year, the business earned $0.63 EPS. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, sell-side analysts expect that Mercadolibre Inc will post -0.99 earnings per share for the current fiscal year.

A number of analysts have weighed in on the stock. Barclays increased their target price on shares of Mercadolibre from $365.00 to $375.00 and gave the company an “overweight” rating in a research report on Thursday, August 9th. Credit Suisse Group decreased their target price on shares of Mercadolibre from $425.00 to $420.00 and set an “outperform” rating for the company in a research report on Thursday, August 9th. ValuEngine raised shares of Mercadolibre from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 9th. BidaskClub raised shares of Mercadolibre from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Finally, Zacks Investment Research downgraded shares of Mercadolibre from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Mercadolibre has a consensus rating of “Buy” and a consensus target price of $362.62.

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Mercadolibre Profile

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

Further Reading: What is the quiet period?

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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