Handelsbanken Fonder AB Buys 2,231 Shares of MercadoLibre, Inc. $MELI

Handelsbanken Fonder AB grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,973 shares of the company’s stock after purchasing an additional 2,231 shares during the period. Handelsbanken Fonder AB’s holdings in MercadoLibre were worth $40,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MELI. Capital Research Global Investors increased its position in MercadoLibre by 22.5% in 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. Capital International Investors raised its stake in MercadoLibre by 7.3% during the 4th 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 during the period. Price T Rowe Associates Inc. MD grew its stake in MercadoLibre by 9.5% in 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 acquiring an additional 137,100 shares during the period. Janus Henderson Group PLC grew its stake in MercadoLibre by 1.7% in 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of MercadoLibre by 2.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 459,784 shares of the company’s stock valued at $926,125,000 after acquiring an additional 12,845 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

Shares of MELI opened at $1,940.00 on Wednesday. The firm has a market capitalization of $98.36 billion, a P/E ratio of 52.76, a P/E/G ratio of 1.13 and a beta of 1.34. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The stock has a 50 day moving average price of $1,755.07 and a two-hundred day moving average price of $1,792.76. 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 (NASDAQ:MELI) last posted 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 analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter last year, the company earned $10.31 earnings per share. Equities analysts forecast that MercadoLibre, Inc. will post 40.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MELI shares. Scotiabank lowered their target price on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. UBS Group decreased their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. The Goldman Sachs Group set a $2,100.00 price objective on shares of MercadoLibre in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a research note on Tuesday. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

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.