APG Asset Management N.V. Trims Stake in MercadoLibre, Inc. $MELI

APG Asset Management N.V. lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 5.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,686 shares of the company’s stock after selling 1,872 shares during the quarter. APG Asset Management N.V. owned about 0.07% of MercadoLibre worth $60,838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MELI. Key Financial Inc purchased a new stake in MercadoLibre in the first quarter worth about $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre in the first quarter worth about $25,000. Park Square Financial Group LLC purchased a new stake in MercadoLibre in the fourth quarter worth about $26,000. Close Asset Management Ltd grew its holdings in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares during the period. Finally, Brooklyn Investment Group grew its holdings in MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Scotiabank assumed coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target on the stock. Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. Susquehanna restated a “positive” rating and issued a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Benchmark restated a “buy” rating and issued a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Wall Street Zen cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,817.22.

MercadoLibre Stock Up 4.0%

MELI opened at $2,430.62 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a market capitalization of $123.23 billion, a PE ratio of 60.03, a PEG ratio of 1.52 and a beta of 1.46. The firm’s 50 day simple moving average is $2,411.33 and its two-hundred day simple moving average is $2,273.82.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter in the previous year, the business posted $10.48 earnings per share. The firm’s revenue was up 33.8% on a year-over-year basis. As a group, equities analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Company 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.