KLP Kapitalforvaltning AS Raises Stock Position in MercadoLibre, Inc. $MELI

Key Points

• KLP Kapitalforvaltning AS increased its stake in MercadoLibre by 5.2%, owning 16,300 shares valued at $42.6 million after purchasing an additional 800 shares.
• Several institutional investors have significantly raised their positions in MercadoLibre, with Assenagon Asset Management increasing its stake by 170.9% in the first quarter.
• MercadoLibre's stock price is experiencing fluctuations, and it recently reported a quarterly earnings miss, with EPS of $10.31 compared to the expected $12.01, despite a revenue increase of 33.8% year-over-year.

KLP Kapitalforvaltning AS grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,300 shares of the company's stock after buying an additional 800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in MercadoLibre were worth $42,602,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MELI. Assenagon Asset Management S.A. lifted its stake in shares of MercadoLibre by 170.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock valued at $536,411,000 after purchasing an additional 173,449 shares during the last quarter. Invesco Ltd. raised its holdings in MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after buying an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 during the last quarter. GQG Partners LLC lifted its position 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 during the last quarter. Finally, Nuveen LLC purchased a new position in MercadoLibre during the first quarter worth $143,367,000. Institutional investors own 87.62% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MELI shares. JPMorgan Chase & Co. lowered their target price on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a report on Friday. Barclays reduced their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Weiss Ratings restated a "buy (b)" rating on shares of MercadoLibre in a research report on Saturday, September 27th. Citigroup reduced their price target on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $2,750.00 target price on shares of MercadoLibre in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $2,822.78.

MercadoLibre Stock Down 0.9%

Shares of MercadoLibre stock opened at $2,154.22 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market cap of $109.22 billion, a price-to-earnings ratio of 53.20, a PEG ratio of 1.45 and a beta of 1.46. The firm's 50-day moving average is $2,378.30 and its two-hundred day moving average is $2,345.89. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly 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 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 company posted $10.48 EPS. MercadoLibre's revenue for the quarter was up 33.8% on a year-over-year basis. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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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