Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 53.4% in the first quarter, Holdings Channel reports. The institutional investor owned 17,490 shares of the company’s stock after buying an additional 6,090 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in MercadoLibre were worth $30,241,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Darwin Wealth Management LLC bought a new position in shares of MercadoLibre during the second quarter valued at $29,000. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC bought a new position in MercadoLibre in the 4th quarter worth about $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre in the 4th quarter worth about $28,000. Finally, Curio Wealth LLC bought a new position in MercadoLibre in the 4th quarter worth about $30,000. 87.62% of the stock is owned by institutional investors.
Insider Activity at MercadoLibre
In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.
MercadoLibre Stock Performance
MercadoLibre (NASDAQ:MELI – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.MercadoLibre’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same period last year, the firm posted $9.74 EPS. Sell-side analysts expect that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. BTIG Research restated a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research note on Tuesday, June 2nd. Citigroup cut shares of MercadoLibre from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. UBS Group dropped their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a report on Wednesday, May 13th. Finally, Daiwa Securities Group downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $2,255.33.
Get Our Latest Research Report on MELI
MercadoLibre Company Profile
MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.
Key offerings include its marketplace platform and a suite of logistics and payment services.
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