Lansforsakringar Fondforvaltning AB publ Has $58.47 Million Holdings in MercadoLibre, Inc. $MELI

Key Points

• Lansforsakringar Fondforvaltning AB publ increased its stake in MercadoLibre, Inc. by 1.3% during the 1st quarter, now owning 29,969 shares valued at approximately $58.47 million.
• Multiple institutional investors have raised their stakes in MercadoLibre, with Banco Santander S.A. significantly increasing its holdings by 221.9% in the same quarter.
• Analysts have set various price targets for MercadoLibre, with Goldman Sachs increasing its target to $3,000.00, while the average price target across analysts stands at $2,817.22.

Lansforsakringar Fondforvaltning AB publ lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,969 shares of the company's stock after acquiring an additional 390 shares during the quarter. Lansforsakringar Fondforvaltning AB publ owned 0.06% of MercadoLibre worth $58,466,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MELI. Key Financial Inc acquired a new stake in MercadoLibre during the 1st quarter worth about $25,000. GW&K Investment Management LLC acquired a new stake in MercadoLibre during the 1st quarter worth about $25,000. Park Square Financial Group LLC acquired a new stake in MercadoLibre during the 4th quarter worth about $26,000. Close Asset Management Ltd boosted its position in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after purchasing an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group boosted its position in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after purchasing an additional 13 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

MELI stock traded up $0.62 during trading on Monday, reaching $2,472.91. 292,481 shares of the stock were exchanged, compared to its average volume of 386,617. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $2,413.70 and a 200-day simple moving average of $2,291.82. The company has a market capitalization of $125.38 billion, a P/E ratio of 61.07, a price-to-earnings-growth ratio of 1.61 and a beta of 1.49. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on MELI. Raymond James Financial reissued a "strong-buy" rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Daiwa Capital Markets began coverage on MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 target price on the stock. Citigroup cut their target price 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. Susquehanna restated a "positive" rating and set a $2,975.00 target price (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently 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.