Varma Mutual Pension Insurance Co Grows Stock Holdings in MercadoLibre, Inc. $MELI

Varma Mutual Pension Insurance Co lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,721 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in MercadoLibre were worth $13,106,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors grew its position in 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 purchasing an additional 408,939 shares during the last quarter. Capital International Investors lifted its stake in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company’s stock worth $3,474,880,000 after buying an additional 118,018 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of MercadoLibre by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company’s stock valued at $3,188,718,000 after buying an additional 137,100 shares during the last quarter. BlackRock Inc. bought a new stake in shares of MercadoLibre during the second quarter valued at approximately $2,246,015,000. Finally, Janus Henderson Group PLC increased its position in shares of MercadoLibre by 1.7% during the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company’s stock valued at $1,062,019,000 after acquiring an additional 10,142 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of NASDAQ MELI opened at $1,922.73 on Monday. The stock has a market cap of $97.48 billion, a PE ratio of 52.29, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The firm has a fifty day moving average price of $1,793.05 and a 200-day moving average price of $1,773.33. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. MercadoLibre’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.31 EPS. Equities analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

MELI has been the topic of several analyst reports. Cantor Fitzgerald upped their price objective on MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. UBS Group decreased their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Scotiabank lowered their target price on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Finally, The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research note on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,272.00.

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.