Nykredit A S Buys Shares of 25,487 MercadoLibre, Inc. $MELI

Nykredit A S acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 25,487 shares of the company’s stock, valued at approximately $43,261,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new position in MercadoLibre during the second quarter valued at approximately $2,246,015,000. Jupiter Topco LLC bought a new stake in shares of MercadoLibre during the 2nd quarter valued at $917,123,000. Linonia Partnership LP lifted its stake in shares of MercadoLibre by 325.1% during the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company’s stock valued at $939,994,000 after buying an additional 423,527 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of MercadoLibre by 22.5% during the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after buying an additional 408,939 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of MercadoLibre during the 4th quarter valued at $597,045,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

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MercadoLibre Trading Down 2.1%

Shares of MELI opened at $1,787.39 on Friday. The stock has a market capitalization of $90.62 billion, a PE ratio of 48.61, a P/E/G ratio of 1.25 and a beta of 1.31. The company’s fifty day moving average is $1,879.99 and its 200 day moving average is $1,769.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50.

MercadoLibre (NASDAQ:MELI – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period in the previous year, the firm posted $10.31 EPS. Sell-side analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on MELI. BTIG Research restated a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Thursday, September 3rd. JPMorgan Chase & Co. increased their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. Cantor Fitzgerald lifted their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Citigroup boosted their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $2,272.00.

View Our Latest Analysis on MercadoLibre

About MercadoLibre

(Free Report)

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company began as an online marketplace and has expanded into a broad platform serving consumers, merchants and businesses.

Its marketplace enables users to buy and sell products across categories, while Mercado Pago provides digital payments, online checkout, money transfers and other financial services. The company also offers Mercado Envíos logistics and fulfillment services, Mercado Ads advertising solutions, and credit products through Mercado Crédito.

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