Lansforsakringar Fondforvaltning AB publ Grows Stock Holdings in MercadoLibre, Inc. $MELI

Lansforsakringar Fondforvaltning AB publ boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1.3% during the first quarter, Holdings Channel.com reports. The firm owned 29,969 shares of the company’s stock after acquiring an additional 390 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in MercadoLibre were worth $58,466,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Banco Santander S.A. increased its position in MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after acquiring an additional 1,893 shares during the last quarter. Prospect Financial Services LLC increased its position in MercadoLibre by 41.7% during the first quarter. Prospect Financial Services LLC now owns 340 shares of the company’s stock valued at $663,000 after acquiring an additional 100 shares during the last quarter. Stratos Investment Management LLC bought a new position in MercadoLibre during the first quarter valued at $203,000. JARISLOWSKY FRASER Ltd increased its position in MercadoLibre by 43.6% during the fourth quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company’s stock valued at $5,525,000 after acquiring an additional 987 shares during the last quarter. Finally, Avant Financial Advisors LLC bought a new position in MercadoLibre during the fourth quarter valued at $316,000. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MELI shares. JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $2,700.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Jefferies Financial Group restated a “hold” rating and issued a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Citigroup cut their price target on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Finally, Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,817.22.

MercadoLibre Stock Up 0.3%

Shares of MercadoLibre stock opened at $2,413.43 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The firm’s 50-day moving average is $2,410.93 and its two-hundred day moving average is $2,282.38. The stock has a market cap of $122.36 billion, a price-to-earnings ratio of 59.61, a PEG ratio of 1.56 and a beta of 1.46.

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

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.