Forsta AP Fonden Grows Stock Position in MercadoLibre, Inc. $MELI

Forsta AP Fonden raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,900 shares of the company’s stock after buying an additional 400 shares during the quarter. Forsta AP Fonden’s holdings in MercadoLibre were worth $36,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its stake in MercadoLibre by 4.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after buying an additional 164,120 shares during the last quarter. Capital Research Global Investors raised its stake in MercadoLibre by 3.4% in the third quarter. Capital Research Global Investors now owns 1,816,092 shares of the company’s stock valued at $4,244,604,000 after buying an additional 59,838 shares during the last quarter. Capital World Investors raised its stake in MercadoLibre by 1.3% in the third quarter. Capital World Investors now owns 1,740,129 shares of the company’s stock valued at $4,067,194,000 after buying an additional 22,659 shares during the last quarter. Schroder Investment Management Group raised its stake in MercadoLibre by 9.8% in the third quarter. Schroder Investment Management Group now owns 572,726 shares of the company’s stock valued at $1,432,565,000 after buying an additional 50,893 shares during the last quarter. Finally, WCM Investment Management LLC raised its stake in MercadoLibre by 0.4% in the third quarter. WCM Investment Management LLC now owns 497,518 shares of the company’s stock valued at $1,244,447,000 after buying an additional 1,833 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Trading Up 0.0%

Shares of NASDAQ:MELI opened at $1,695.65 on Friday. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The stock has a market cap of $85.97 billion, a price-to-earnings ratio of 44.75, a PEG ratio of 1.04 and a beta of 1.41. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $1,719.52 and a 200-day moving average price of $1,902.46.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the previous year, the business earned $9.74 earnings per share. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. Equities analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 22nd. Morgan Stanley reduced their price objective 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. UBS Group reduced their price objective on 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. Scotiabank reduced their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Finally, Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

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.