MercadoLibre, Inc. $MELI Shares Sold by Swedbank AB

Key Points

• Swedbank AB reduced its stake in MercadoLibre by 1.5% in Q1, now holding 116,457 shares valued at approximately $227 million.
• Several other hedge funds significantly increased their holdings in MercadoLibre, with Assenagon Asset Management raising its position by 170.9% in the same quarter.
• MercadoLibre reported $10.31 EPS, missing estimates, though quarterly revenue increased by 33.8% year-over-year to $6.79 billion.

Swedbank AB lowered its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,457 shares of the company's stock after selling 1,817 shares during the period. Swedbank AB owned about 0.23% of MercadoLibre worth $227,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MELI. Assenagon Asset Management S.A. lifted its position in MercadoLibre by 170.9% in the first 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 period. Invesco Ltd. lifted its position in MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after purchasing 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 valued at $1,073,823,000 after purchasing an additional 96,283 shares during the period. 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 valued at $901,058,000 after purchasing an additional 87,912 shares during the period. Finally, Nuveen LLC acquired a new stake in MercadoLibre in the first quarter valued at about $143,367,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Price Performance

MELI stock opened at $2,338.20 on Friday. The firm has a 50 day moving average of $2,388.33 and a 200-day moving average of $2,304.90. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. 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 company has a market cap of $118.54 billion, a price-to-earnings ratio of 57.75, a PEG ratio of 1.53 and a beta of 1.49.

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). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the previous year, the business posted $10.48 earnings per share. MercadoLibre's revenue was up 33.8% on a year-over-year basis. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of recent analyst reports. Jefferies Financial Group restated a "hold" rating and issued a $2,800.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. Susquehanna restated a "positive" rating and issued a $2,975.00 price objective (up previously from $2,840.00) on shares of MercadoLibre in a research report on Thursday, June 26th. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target for the company. Wall Street Zen downgraded shares of MercadoLibre from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $2,750.00 price target 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, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.

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