Nordea Investment Management AB Purchases 5,525 Shares of MercadoLibre, Inc. $MELI

Key Points

• Nordea Investment Management AB increased its stake in MercadoLibre by 6.6%, acquiring an additional 5,525 shares, bringing its total ownership to 89,454 shares valued at $231.13 million.
• Despite MercadoLibre's revenue of $6.79 billion in its latest quarter, which surpassed analysts' expectations, it reported earnings per share of $10.31, missing the consensus estimate by $1.70.
• Current stock analysts maintain a positive outlook, with a consensus target price of $2,810.88 and an average rating of "Moderate Buy" for MercadoLibre stock.

Nordea Investment Management AB boosted its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,454 shares of the company's stock after acquiring an additional 5,525 shares during the quarter. Nordea Investment Management AB owned 0.18% of MercadoLibre worth $231,130,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MELI. Ninety One North America Inc. grew its stake in shares of MercadoLibre by 21.5% during the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company's stock valued at $15,927,000 after buying an additional 1,080 shares during the last quarter. Banco Santander S.A. grew its stake in shares of MercadoLibre by 221.9% during the first quarter. Banco Santander S.A. now owns 2,746 shares of the company's stock valued at $5,357,000 after buying an additional 1,893 shares during the last quarter. Stratos Investment Management LLC bought a new position in shares of MercadoLibre during the first quarter valued at about $203,000. Costello Asset Management INC grew its stake in shares of MercadoLibre by 434.3% during the second quarter. Costello Asset Management INC now owns 577 shares of the company's stock valued at $1,509,000 after buying an additional 469 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its stake in shares of MercadoLibre by 8.5% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,257 shares of the company's stock valued at $5,899,000 after buying an additional 177 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,024.98 on Friday. 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 firm has a 50-day moving average of $2,336.31 and a 200-day moving average of $2,346.74. The firm has a market cap of $102.66 billion, a P/E ratio of 50.01, a P/E/G ratio of 1.38 and a beta of 1.46. 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 posted its earnings results 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 firm had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business's revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.48 earnings per share. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MELI shares. Scotiabank started coverage on MercadoLibre in a research note on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective on the stock. Barclays reduced their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of MercadoLibre in a research note on Wednesday, October 8th. Cantor Fitzgerald raised their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Finally, Citigroup reduced their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a "buy" rating on the stock in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $2,810.88.

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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