Ilmarinen Mutual Pension Insurance Co Sells 3,000 Shares of MercadoLibre, Inc. $MELI

Key Points

• Ilmarinen Mutual Pension Insurance Co has reduced its stake in MercadoLibre by 30%, selling 3,000 shares and retaining 7,000 shares, valued at approximately $13.65 million.
• Several other institutional investors, including Assenagon Asset Management and Invesco Ltd., significantly increased their positions in MercadoLibre during the same quarter.
• MercadoLibre recently reported earnings that missed analysts' estimates, with a net income margin of 8.52% and projected earnings of 43.96 EPS for the current year.

Ilmarinen Mutual Pension Insurance Co lowered its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 30.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the company's stock after selling 3,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in MercadoLibre were worth $13,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC boosted its stake in MercadoLibre by 1.6% in the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company's stock worth $2,251,531,000 after buying an additional 18,731 shares in the last quarter. Invesco Ltd. boosted its stake in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock worth $1,113,881,000 after buying an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock worth $1,073,823,000 after buying an additional 96,283 shares in the last quarter. Generation Investment Management LLP boosted its stake in MercadoLibre by 3.3% in the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company's stock worth $1,035,061,000 after buying an additional 16,878 shares in the last quarter. Finally, GQG Partners LLC boosted its stake in MercadoLibre by 23.5% in the first quarter. GQG Partners LLC now owns 461,875 shares of the company's stock worth $901,058,000 after buying an additional 87,912 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Up 0.0%

MELI stock traded up $1.16 on Friday, reaching $2,339.36. The company's stock had a trading volume of 571,805 shares, compared to its average volume of 332,402. The business has a fifty day simple moving average of $2,384.98 and a two-hundred day simple moving average of $2,306.83. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The firm has a market cap of $118.61 billion, a PE ratio of 57.78, a PEG ratio of 1.52 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the previous year, the business earned $10.48 EPS. The business's revenue was up 33.8% compared to the same quarter last year. As a group, research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

MELI has been the subject of several research reports. Wall Street Zen lowered MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Wedbush set a $2,700.00 price objective on MercadoLibre and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Susquehanna reissued a "positive" rating and set a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Finally, Benchmark reissued a "buy" rating and set a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,817.22.

MercadoLibre 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.