DnB Asset Management AS Buys 1,201 Shares of MercadoLibre, Inc. $MELI

DnB Asset Management AS lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,393 shares of the company’s stock after purchasing an additional 1,201 shares during the quarter. DnB Asset Management AS owned about 0.09% of MercadoLibre worth $88,556,000 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. Key Financial Inc bought a new stake in MercadoLibre during the 1st quarter valued at about $25,000. GW&K Investment Management LLC purchased a new stake in shares of MercadoLibre during the first quarter valued at approximately $25,000. Park Square Financial Group LLC bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $26,000. Close Asset Management Ltd raised its holdings in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group lifted its position in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after acquiring an additional 13 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Down 0.3%

Shares of MELI stock opened at $2,373.12 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The stock has a market cap of $120.32 billion, a P/E ratio of 58.61, a P/E/G ratio of 1.61 and a beta of 1.49. The company has a 50 day simple moving average of $2,407.77 and a two-hundred day simple moving average of $2,295.49.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). The company had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter last year, the company earned $10.48 earnings per share. On average, research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of research analyst reports. Citigroup reduced their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a report on Monday, August 18th. Benchmark reiterated a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the company an “outperform” rating in a research note on Tuesday, August 5th. Jefferies Financial Group reaffirmed a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Barclays decreased their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,817.22.

About MercadoLibre

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.