Forsta AP Fonden Boosts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Forsta AP Fonden increased its stake in MercadoLibre, Inc. by 5.2%, acquiring an additional 500 shares during the first quarter, bringing its total ownership to 10,100 shares valued at approximately $19.7 million.
• MercadoLibre reported $10.31 per share in earnings for the latest quarter, missing analysts’ estimates of $12.01, while its revenue increased by 33.8% year-over-year to $6.79 billion.
• Analysts show a mostly positive outlook on MercadoLibre, with an average target price of $2,795 and a consensus rating of "Moderate Buy".

Forsta AP Fonden increased its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 10,100 shares of the company's stock after buying an additional 500 shares during the period. Forsta AP Fonden's holdings in MercadoLibre were worth $19,704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Meiji Yasuda Life Insurance Co grew its holdings in MercadoLibre by 0.5% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company's stock worth $1,699,000 after acquiring an additional 5 shares in the last quarter. Formidable Asset Management LLC grew its holdings in MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after acquiring an additional 5 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock valued at $201,000 after buying an additional 5 shares during the last quarter. Sonora Investment Management Group LLC boosted its holdings in shares of MercadoLibre by 3.1% in the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock valued at $328,000 after buying an additional 5 shares in the last quarter. Finally, Beacon Capital Management LLC boosted its holdings in shares of MercadoLibre by 8.3% in the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after buying an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Performance

MELI traded down $61.66 during trading on Monday, reaching $2,292.04. 351,316 shares of the company's stock were exchanged, compared to its average volume of 343,773. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. 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 capitalization of $116.21 billion, a P/E ratio of 56.61, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The company's fifty day simple moving average is $2,437.60 and its 200-day simple moving average is $2,247.76.

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 return on equity of 43.06% and a net margin of 8.52%. The business had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the prior year, the business posted $10.48 earnings per share. The business's quarterly revenue was up 33.8% compared to the same quarter last year. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on MELI shares. Morgan Stanley restated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Wedbush lowered their price target on shares of MercadoLibre from $2,800.00 to $2,700.00 and set an "outperform" rating on the stock in a report on Tuesday, August 5th. Barclays lowered their price target on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $2,795.00.

About MercadoLibre

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.