AMF Tjanstepension AB Buys 23,220 Shares of MercadoLibre, Inc. $MELI

Key Points

• AMF Tjanstepension AB increased its MercadoLibre stake by 17.3% in the first quarter, buying 23,220 shares and bringing its total holding to 157,733 shares worth about $272.7 million.
• Other institutional investors also made small increases in their positions, and 87.62% of MercadoLibre’s shares are owned by institutions and hedge funds.
• MercadoLibre reported mixed quarterly results: revenue rose 49% year over year to $8.85 billion, but EPS of $8.23 missed estimates; meanwhile, analysts still rate the stock a Moderate Buy with an average target price of $2,255.33.

AMF Tjanstepension AB grew its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 17.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 157,733 shares of the company's stock after purchasing an additional 23,220 shares during the period. MercadoLibre comprises approximately 1.8% of AMF Tjanstepension AB's investment portfolio, making the stock its 17th largest position. AMF Tjanstepension AB owned 0.31% of MercadoLibre worth $272,724,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Laird Norton Wetherby Wealth Management LLC grew its position in shares of MercadoLibre by 2.0% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock valued at $605,000 after purchasing an additional 5 shares during the period. Interchange Capital Partners LLC raised its position in shares of MercadoLibre by 2.1% during the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock worth $490,000 after purchasing an additional 5 shares during the last quarter. Cornerstone Select Advisors LLC raised its position in shares of MercadoLibre by 2.9% during the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock worth $355,000 after purchasing an additional 5 shares during the last quarter. Mitchell Capital Management Co. lifted its stake in MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock valued at $2,542,000 after buying an additional 5 shares in the last quarter. Finally, Strategic Advisors LLC lifted its stake in MercadoLibre by 0.4% in the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock valued at $2,564,000 after buying an additional 5 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company's stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares of the company's stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

MercadoLibre Stock Performance

MELI opened at $1,852.22 on Monday. The firm has a market capitalization of $93.91 billion, a price-to-earnings ratio of 48.88, a price-to-earnings-growth ratio of 1.14 and a beta of 1.35. The company's 50 day simple moving average is $1,675.89 and its two-hundred day simple moving average is $1,826.65. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year 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 posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 6.04% and a return on equity of 29.58%. MercadoLibre's revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter last year, the company earned $9.74 earnings per share. Analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on MELI. Daiwa Securities Group lowered MercadoLibre from a "buy" rating to a "hold" rating and set a $1,800.00 price objective for the company. in a research note on Friday, May 8th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a research note on Friday, May 8th. UBS Group dropped their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Benchmark reduced their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Finally, Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus target price of $2,255.33.

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.

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