APG Asset Management N.V. Lowers Stock Position in MercadoLibre, Inc. $MELI

Key Points

• APG Asset Management N.V. has reduced its stake in MercadoLibre, Inc. by 5.3%, now holding around 0.07% of the company, valued at approximately $60.84 million.
• Despite the cut, a number of other institutional investors have recently increased their positions or established new stakes in MercadoLibre, with hedge funds owning 87.62% of the company's stock.
• Equities research analysts have a consensus Moderate Buy rating on MercadoLibre, with a target price averaging around $2,817.22, pointing to anticipated growth for the company.

APG Asset Management N.V. reduced its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,686 shares of the company's stock after selling 1,872 shares during the quarter. APG Asset Management N.V. owned about 0.07% of MercadoLibre worth $60,838,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Key Financial Inc bought a new position in MercadoLibre during the 1st quarter worth about $25,000. GW&K Investment Management LLC bought a new position in MercadoLibre in the first quarter worth approximately $25,000. Park Square Financial Group LLC purchased a new stake in MercadoLibre during the fourth quarter worth $26,000. Close Asset Management Ltd lifted its holdings in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after buying an additional 11 shares during the period. Finally, Brooklyn Investment Group boosted its position in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after acquiring an additional 13 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock traded down $2.21 on Tuesday, reaching $2,405.53. 409,689 shares of the stock were exchanged, compared to its average volume of 377,638. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22. The business has a 50 day moving average price of $2,410.39 and a two-hundred day moving average price of $2,280.61. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $121.96 billion, a price-to-earnings ratio of 59.47, a PEG ratio of 1.57 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business's quarterly revenue was up 33.8% compared to the same quarter last year. During the same period in the prior year, the business posted $10.48 earnings per share. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MELI. UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $2,700.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Wall Street Zen lowered shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Raymond James Financial reissued a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Scotiabank began coverage on MercadoLibre in a research report on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 price objective for the company. One 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $2,817.22.

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.