Skandinaviska Enskilda Banken AB publ Decreases Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Skandinaviska Enskilda Banken AB published a 19.7% reduction in its holdings of MercadoLibre, Inc. during the first quarter, now owning 15,641 shares valued at approximately $30.4 million.
• Multiple institutional investors modified their positions in MercadoLibre, with NEOS Investment Management LLC increasing its holdings by 81.0% in the fourth quarter.
• MercadoLibre's latest earnings report showed a significant revenue increase of 37.0% year-over-year, with earnings per share exceeding analyst expectations by $1.92.

Skandinaviska Enskilda Banken AB publ lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 19.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,641 shares of the company's stock after selling 3,830 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in MercadoLibre were worth $30,422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MELI. Prospect Financial Services LLC grew its holdings in MercadoLibre by 41.7% in the 1st quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock worth $663,000 after acquiring an additional 100 shares during the last quarter. Stratos Investment Management LLC bought a new stake in shares of MercadoLibre during the 1st quarter valued at about $203,000. JARISLOWSKY FRASER Ltd boosted its stake in shares of MercadoLibre by 43.6% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock valued at $5,525,000 after purchasing an additional 987 shares in the last quarter. Avant Financial Advisors LLC bought a new stake in shares of MercadoLibre during the 4th quarter valued at about $316,000. Finally, Blue Sky Capital Consultants Group Inc. purchased a new position in MercadoLibre during the 4th quarter valued at about $2,500,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MELI traded up $4.99 during mid-day trading on Wednesday, reaching $2,389.89. The stock had a trading volume of 70,129 shares, compared to its average volume of 389,205. The firm has a market cap of $121.16 billion, a price-to-earnings ratio of 58.88, a PEG ratio of 1.40 and a beta of 1.49. MercadoLibre, Inc. has a 12 month low of $1,579.78 and a 12 month high of $2,645.22. The business has a fifty day moving average of $2,467.53 and a 200 day moving average of $2,213.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company's revenue was up 37.0% on a year-over-year basis. During the same period in the prior year, the business posted $6.78 earnings per share. Equities analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on MELI. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Susquehanna reissued a "positive" rating and set a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Cantor Fitzgerald decreased their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. The Goldman Sachs Group boosted their price objective on shares of MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $2,690.29.

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.