94,029 Shares in MercadoLibre, Inc. $MELI Acquired by SEB Asset Management AB

Key Points

• SEB Asset Management AB disclosed a new first-quarter position in MercadoLibre, buying 94,029 shares valued at about $162.6 million. The stake made MELI its 25th largest holding and represented roughly 0.19% of MercadoLibre.
• MercadoLibre shares were down 2.3% on Friday, opening at $1,813.91. The stock remains near its 200-day average and has traded between $1,495 and $2,548.50 over the past year.
• The company recently reported mixed quarterly results, with EPS of $8.23 coming in below expectations while revenue of $8.85 billion topped estimates and rose 49% year over year. Analysts still rate the stock a consensus Moderate Buy with an average price target of $2,258.67.

SEB Asset Management AB purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 94,029 shares of the company's stock, valued at approximately $162,578,000. MercadoLibre accounts for about 0.7% of SEB Asset Management AB's investment portfolio, making the stock its 25th largest position. SEB Asset Management AB owned approximately 0.19% of MercadoLibre at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the 4th quarter worth $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter valued at about $26,000. Purpose Unlimited Inc. purchased a new stake in MercadoLibre during the fourth quarter valued at about $28,000. Darwin Wealth Management LLC acquired a new stake in MercadoLibre during the second quarter worth about $29,000. Finally, Curio Wealth LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MELI. Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 21st. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research report on Friday, May 8th. Morgan Stanley cut their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Benchmark reduced their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a research report on Friday, May 8th. Finally, Barclays reduced their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of "Moderate Buy" and a consensus price target of $2,258.67.

MercadoLibre Trading Down 2.3%

Shares of MELI opened at $1,813.91 on Friday. The stock's 50-day moving average is $1,681.90 and its two-hundred day moving average is $1,822.69. The stock has a market cap of $91.97 billion, a PE ratio of 47.87, a P/E/G ratio of 1.12 and a beta of 1.35. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). The company had revenue of $8.85 billion during the quarter, compared to analysts' expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.MercadoLibre's quarterly revenue was up 49.0% on a year-over-year basis. During the same period in the previous year, the company earned $9.74 EPS. Equities analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the firm's stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the acquisition, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre 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.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.