AMF Tjanstepension AB Has $249.87 Million Stake in MercadoLibre, Inc. $MELI

Key Points

• AMF Tjanstepension AB increased its stake in MercadoLibre, Inc. by 19.9% during Q2, now holding approximately $249.87 million worth of the stock.
• MercadoLibre's stock recently faced a 3.3% decline, and it reported earnings of $10.31 per share, falling short of expectations by $1.70.
• Multiple analysts have varying price targets for MercadoLibre, with the average target being $2,822.78, indicating a generally positive outlook with many recommending a Buy rating.

AMF Tjanstepension AB grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 19.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,602 shares of the company's stock after purchasing an additional 15,880 shares during the period. MercadoLibre comprises 1.7% of AMF Tjanstepension AB's portfolio, making the stock its 18th largest holding. AMF Tjanstepension AB owned about 0.19% of MercadoLibre worth $249,868,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MELI. Bison Wealth LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at about $206,000. Rhumbline Advisers increased its holdings in shares of MercadoLibre by 4.4% in the 1st quarter. Rhumbline Advisers now owns 10,365 shares of the company's stock valued at $20,221,000 after purchasing an additional 437 shares during the period. NBC Securities Inc. bought a new stake in shares of MercadoLibre in the 1st quarter valued at approximately $72,000. Merit Financial Group LLC grew its stake in shares of MercadoLibre by 7.7% in the 1st quarter. Merit Financial Group LLC now owns 757 shares of the company's stock valued at $1,477,000 after buying an additional 54 shares in the last quarter. Finally, Matrix Trust Co grew its stake in shares of MercadoLibre by 27.1% in the 1st quarter. Matrix Trust Co now owns 108 shares of the company's stock valued at $211,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Down 3.3%

MELI opened at $2,172.75 on Friday. The business has a 50 day moving average price of $2,382.29 and a 200 day moving average price of $2,341.63. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm has a market cap of $110.16 billion, a P/E ratio of 53.66, a price-to-earnings-growth ratio of 1.49 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $10.31 earnings per share 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 company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter last year, the firm posted $10.48 earnings per share. The firm's revenue for the quarter was up 33.8% compared to the same quarter last year. Research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Susquehanna reissued a "positive" rating and issued a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. JPMorgan Chase & Co. lowered their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a research note on Friday. Benchmark reissued a "buy" rating and issued a $2,875.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Barclays lowered their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $2,822.78.

MercadoLibre Company Profile

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.

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