Achmea Investment Management B.V. Acquires 1,178 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Achmea Investment Management B.V. increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 32.5% in the first quarter, Holdings Channel.com reports. The firm owned 4,801 shares of the company’s stock after acquiring an additional 1,178 shares during the period. Achmea Investment Management B.V.’s holdings in MercadoLibre were worth $9,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Park Square Financial Group LLC purchased a new stake in MercadoLibre during the fourth quarter valued at about $26,000. Covestor Ltd purchased a new stake in MercadoLibre during the 4th quarter valued at about $27,000. Heck Capital Advisors LLC purchased a new stake in MercadoLibre during the 4th quarter valued at about $32,000. VSM Wealth Advisory LLC bought a new position in MercadoLibre during the 4th quarter worth approximately $37,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its stake in MercadoLibre by 375.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company’s stock worth $37,000 after purchasing an additional 15 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a “neutral” rating in a research report on Thursday, May 22nd. Citigroup reiterated a “buy” rating on shares of MercadoLibre in a report on Friday, June 6th. Morgan Stanley reissued an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. Barclays boosted their price objective on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Finally, Benchmark lowered shares of MercadoLibre from a “buy” rating to a “cautious” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,645.94.

MercadoLibre Price Performance

MELI stock opened at $2,560.05 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 1 year low of $1,563.21 and a 1 year high of $2,635.88. The firm has a 50-day moving average of $2,432.13 and a 200 day moving average of $2,109.52. The company has a market cap of $129.79 billion, a P/E ratio of 62.96, a PEG ratio of 1.52 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business’s revenue for the quarter was up 37.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.78 EPS. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre 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.