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Swiss National Bank Has $250.88 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

MercadoLibre logo with Retail/Wholesale background

Key Points

  • The Swiss National Bank reduced its stake in MercadoLibre, Inc. to approximately $250.88 million, holding about 128,600 shares after selling 300 shares in the first quarter.
  • Several institutional investors have increased their holdings, with Capital International Investors boosting its position by 38.7%, now owning over 1.68 million shares valued at nearly $2.87 billion.
  • Analysts have set optimistic price targets for MercadoLibre, with estimates ranging from $2,700 to $3,000, positioning the stock with a current consensus rating of "Moderate Buy."
  • Want stock alerts on MercadoLibre? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Swiss National Bank lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,600 shares of the company's stock after selling 300 shares during the quarter. Swiss National Bank owned approximately 0.25% of MercadoLibre worth $250,882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in MELI. Key Financial Inc acquired a new position in MercadoLibre in the first quarter worth $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre in the first quarter worth $25,000. Park Square Financial Group LLC acquired a new position in MercadoLibre in the fourth quarter worth $26,000. Covestor Ltd bought a new stake in MercadoLibre in the fourth quarter valued at $27,000. Finally, Close Asset Management Ltd lifted its stake in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after buying an additional 11 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MELI. UBS Group set a $3,000.00 target price on MercadoLibre in a research note on Monday, June 2nd. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. Jefferies Financial Group reiterated a "hold" rating and issued a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Benchmark reiterated a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $2,700.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $2,795.00.

View Our Latest Research Report on MercadoLibre

MercadoLibre Price Performance

MercadoLibre stock traded up $18.88 during midday trading on Friday, hitting $2,353.70. The company's stock had a trading volume of 303,477 shares, compared to its average volume of 345,695. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The stock's 50-day moving average price is $2,437.60 and its 200-day moving average price is $2,244.85. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The company has a market capitalization of $119.33 billion, a PE ratio of 58.13, a price-to-earnings-growth ratio of 1.44 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The company had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. MercadoLibre's revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the company posted $10.48 EPS. Analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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