MercadoLibre, Inc. $MELI Position Decreased by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 22,239 shares of the company’s stock after selling 404 shares during the quarter. Handelsbanken Fonder AB’s holdings in MercadoLibre were worth $44,795,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. AMF Tjanstepension AB lifted its stake in MercadoLibre by 19.0% during the fourth quarter. AMF Tjanstepension AB now owns 134,513 shares of the company’s stock valued at $270,944,000 after purchasing an additional 21,451 shares during the last quarter. Profund Advisors LLC grew its position in MercadoLibre by 8.9% in the fourth quarter. Profund Advisors LLC now owns 3,993 shares of the company’s stock worth $8,043,000 after buying an additional 327 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of MercadoLibre by 42.7% in the fourth quarter. ProShare Advisors LLC now owns 79,658 shares of the company’s stock valued at $160,452,000 after buying an additional 23,844 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of MercadoLibre by 2.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,337 shares of the company’s stock valued at $6,722,000 after buying an additional 74 shares in the last quarter. Finally, Stronghold Wealth Management L.L.C. acquired a new stake in shares of MercadoLibre during the 4th quarter valued at $234,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

MELI stock opened at $1,594.86 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22. The firm has a market capitalization of $80.86 billion, a PE ratio of 42.09, a P/E/G ratio of 0.98 and a beta of 1.41. The firm has a 50-day moving average of $1,727.23 and a two-hundred day moving average of $1,933.17.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research report on Wednesday, May 13th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and cut their price objective for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Morgan Stanley cut their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. BTIG Research cut their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Finally, Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective for the company. in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

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.