Nykredit A S Invests $49.41 Million in MercadoLibre, Inc. $MELI

Nykredit A S bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 29,108 shares of the company’s stock, valued at approximately $49,408,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MELI. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre during the 4th quarter worth about $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre in the fourth quarter valued at about $28,000. Wedbush Fund Advisers LLC acquired a new stake in shares of MercadoLibre in the second quarter valued at about $29,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the second quarter worth about $29,000. Finally, Curio Wealth LLC bought a new stake in MercadoLibre during the fourth quarter worth about $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 2.2%

MELI opened at $2,006.58 on Thursday. The stock’s fifty day simple moving average is $1,845.93 and its 200 day simple moving average is $1,769.50. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The stock has a market cap of $101.73 billion, a PE ratio of 54.57, a price-to-earnings-growth ratio of 1.35 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the previous year, the business posted $10.31 earnings per share. As a group, research analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a report on Friday, May 8th. Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Barclays decreased their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Company Profile

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.