MercadoLibre, Inc. $MELI Stock Position Raised by AMF Tjanstepension AB

AMF Tjanstepension AB raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 19.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,513 shares of the company’s stock after purchasing an additional 21,451 shares during the period. MercadoLibre accounts for about 1.7% of AMF Tjanstepension AB’s investment portfolio, making the stock its 20th largest position. AMF Tjanstepension AB’s holdings in MercadoLibre were worth $270,944,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilkinson Global Asset Management LLC raised its stake in shares of MercadoLibre by 2.3% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock worth $528,000 after purchasing an additional 5 shares in the last quarter. Hardy Reed LLC raised its stake in shares of MercadoLibre by 4.0% during the 3rd quarter. Hardy Reed LLC now owns 131 shares of the company’s stock worth $306,000 after purchasing an additional 5 shares in the last quarter. Rothschild Investment LLC raised its stake in shares of MercadoLibre by 35.7% during the 3rd quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock worth $44,000 after purchasing an additional 5 shares in the last quarter. Interchange Capital Partners LLC raised its stake in shares of MercadoLibre by 2.1% during the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after purchasing an additional 5 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its stake in shares of MercadoLibre by 2.0% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after purchasing an additional 5 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Morgan Stanley cut their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Benchmark cut their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. UBS Group cut their price objective on 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. Itau BBA Securities reissued an “outperform” rating on shares of MercadoLibre in a research note on Wednesday, February 25th. Finally, Citigroup downgraded MercadoLibre from a “buy” rating to a “neutral” rating and cut their price objective for the company from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,255.33.

MercadoLibre Stock Up 2.5%

Shares of MELI stock opened at $1,585.91 on Tuesday. The stock’s 50 day simple moving average is $1,731.09 and its 200 day simple moving average is $1,938.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22. The company has a market capitalization of $80.40 billion, a price-to-earnings ratio of 41.86, a PEG ratio of 0.95 and a beta of 1.41.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) 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 analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same period last year, the business earned $9.74 EPS. As a group, research analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current year.

About MercadoLibre

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.