Tredje AP fonden Purchases 1,320 Shares of MercadoLibre, Inc. $MELI

Tredje AP fonden grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 11.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,320 shares of the company’s stock after acquiring an additional 1,320 shares during the quarter. Tredje AP fonden’s holdings in MercadoLibre were worth $34,814,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Jennison Associates LLC lifted its position in shares of MercadoLibre by 7.0% in the 2nd quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after acquiring an additional 81,124 shares during the period. Invesco Ltd. lifted its position in shares of MercadoLibre by 22.4% in the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after acquiring an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of MercadoLibre by 21.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after acquiring an additional 96,283 shares during the period. Generation Investment Management LLP lifted its position in shares of MercadoLibre by 3.3% in the 1st quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock worth $1,035,061,000 after acquiring an additional 16,878 shares during the period. Finally, GQG Partners LLC lifted its position in shares of MercadoLibre by 23.5% in the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock worth $901,058,000 after acquiring an additional 87,912 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research reports. Susquehanna reduced their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday. Citigroup decreased their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Benchmark decreased their price objective on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Barclays lifted their price objective on MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,796.47.

MercadoLibre Trading Down 1.3%

MELI stock opened at $2,328.90 on Friday. The business has a fifty day moving average price of $2,310.58 and a 200 day moving average price of $2,372.51. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The stock has a market capitalization of $118.07 billion, a price-to-earnings ratio of 56.83, a P/E/G ratio of 1.56 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

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