BI Asset Management Fondsmaeglerselskab A S Buys 17,396 Shares of MercadoLibre, Inc. $MELI

BI Asset Management Fondsmaeglerselskab A S increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 87.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,356 shares of the company’s stock after buying an additional 17,396 shares during the quarter. MercadoLibre accounts for 1.0% of BI Asset Management Fondsmaeglerselskab A S’s portfolio, making the stock its 15th biggest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in MercadoLibre were worth $97,635,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $29,000. Highline Wealth Partners LLC lifted its position in MercadoLibre by 366.7% in the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after purchasing an additional 11 shares during the period. Brooklyn Investment Group boosted its stake in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares in the last quarter. Twin Tree Management LP acquired a new position in shares of MercadoLibre in the 1st quarter valued at $29,000. Finally, Curio Wealth LLC lifted its holdings in shares of MercadoLibre by 1,400.0% during the 2nd quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after acquiring an additional 14 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Activity

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total value of $503,778.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Emiliano Calemzuk sold 45 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the transaction, the director owned 257 shares in the company, valued at $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by corporate insiders.

MercadoLibre Stock Down 0.2%

NASDAQ MELI opened at $2,015.89 on Friday. The stock’s 50 day simple moving average is $2,121.14 and its 200 day simple moving average is $2,316.57. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The firm has a market cap of $102.21 billion, a PE ratio of 49.19, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.17 and a quick ratio of 1.15.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 39.03%. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.83 EPS. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MELI has been the topic of a number of analyst reports. UBS Group lowered their target price on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Susquehanna lowered their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research note on Monday, October 13th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Cantor Fitzgerald lowered their price target on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,848.82.

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.