Tredje AP fonden Has $34.81 Million Stake in MercadoLibre, Inc. $MELI

Tredje AP fonden boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,320 shares of the company’s stock after purchasing an additional 1,320 shares during the quarter. Tredje AP fonden’s holdings in MercadoLibre were worth $34,814,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Key Financial Inc acquired a new position in MercadoLibre during the 1st quarter worth $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre during the 1st quarter worth $25,000. Close Asset Management Ltd lifted its holdings in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Highline Wealth Partners LLC lifted its holdings in MercadoLibre by 366.7% during the 2nd quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after buying an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group lifted its holdings in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Scotiabank started coverage on MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective on the stock. Barclays increased their price target on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday. Benchmark reduced their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Daiwa Capital Markets began coverage on MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,796.47.

MercadoLibre Stock Down 1.3%

NASDAQ:MELI opened at $2,328.90 on Friday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $118.07 billion, a P/E ratio of 56.83, a P/E/G ratio of 1.56 and a beta of 1.46. The stock’s fifty day simple moving average is $2,310.58 and its 200-day simple moving average is $2,372.51.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing the consensus estimate of $9.88 by ($1.56). The business had revenue of $7.41 billion for the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same period in the previous year, the business posted $7.83 EPS. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.