MercadoLibre, Inc. $MELI Stock: AMF Tjanstepension AB Reduces Stake

Key Points

• AMF Tjanstepension AB reduced its MercadoLibre stake by 1.9% in the third quarter, selling 2,900 shares and retaining 153,228 shares valued at approximately $264.9 million. Institutional investors collectively own 87.62% of the company.
• MercadoLibre reported quarterly earnings of $9.19 per share, beating the $8.65 analyst consensus, while revenue of $10.17 billion exceeded estimates and increased 49.8% year over year.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $2,251.88, compared with the stock’s reported price of $1,824.95.

AMF Tjanstepension AB cut its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 153,228 shares of the company's stock after selling 2,900 shares during the quarter. MercadoLibre makes up approximately 1.6% of AMF Tjanstepension AB's holdings, making the stock its 19th biggest holding. AMF Tjanstepension AB owned about 0.30% of MercadoLibre worth $264,859,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in MercadoLibre in the second quarter worth about $2,246,015,000. Janus Henderson Group PLC grew its holdings in MercadoLibre by 1.7% during the 1st quarter. Janus Henderson Group PLC now owns 614,238 shares of the company's stock worth $1,062,019,000 after acquiring an additional 10,142 shares in the last quarter. Linonia Partnership LP increased its position in MercadoLibre by 325.1% during the 2nd quarter. Linonia Partnership LP now owns 553,788 shares of the company's stock valued at $939,994,000 after purchasing an additional 423,527 shares during the period. Jupiter Topco LLC purchased a new position in MercadoLibre during the 2nd quarter valued at about $917,123,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in MercadoLibre by 7.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 533,816 shares of the company's stock valued at $906,094,000 after purchasing an additional 38,871 shares during the period. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,824.95 on Friday. The stock's 50-day moving average is $1,862.71 and its 200 day moving average is $1,788.57. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,428.00. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The company has a market cap of $92.52 billion, a P/E ratio of 50.44, a PEG ratio of 1.30 and a beta of 1.31.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $9.19 EPS for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm's revenue was up 49.8% on a year-over-year basis. During the same period in the previous year, the company posted $10.31 earnings per share. Research analysts predict that MercadoLibre, Inc. will post 38.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MELI. BTIG Research restated a "buy" rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, September 3rd. New Street Research began coverage on shares of MercadoLibre in a research note on Wednesday, September 23rd. They set a "buy" rating and a $2,450.00 price objective on the stock. Citigroup cut their price objective on shares of MercadoLibre from $2,150.00 to $2,100.00 and set a "neutral" rating on the stock in a report on Tuesday, October 13th. Susquehanna lifted their price objective on shares of MercadoLibre to $2,400.00 and gave the company a "positive" rating in a report on Tuesday, October 6th. Finally, Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $2,300.00 to $2,200.00 and set an "overweight" rating for the company in a research note on Monday, October 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and an average price target of $2,251.88.

About MercadoLibre

MercadoLibre, Inc is a technology company that operates an online commerce and financial services ecosystem across Latin America. Founded in 1999 by Marcos Galperin, the company initially developed an online marketplace and has expanded into a broad platform connecting buyers and sellers with businesses and consumers.

Its commerce operations include the MercadoLibre marketplace, where users can purchase and sell products across numerous categories. The company also offers supporting services such as Mercado Envíos for shipping and logistics, Mercado Ads for digital advertising, and tools for merchants to manage their online businesses.

MercadoLibre's financial technology business is centered on Mercado Pago, which provides digital payment processing, online checkout, money transfer and account services.

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