Tredje AP fonden Purchases New Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Tredje AP fonden has acquired a new stake in MercadoLibre, Inc., purchasing 12,000 shares valued at approximately $23.41 million in the first quarter.
• MercadoLibre reported an earnings per share (EPS) of $9.74 for the latest quarter, surpassing analysts' estimates of $7.82 and marking a 37% year-over-year revenue growth.
• As of now, 87.62% of MercadoLibre's stock is owned by institutional investors and hedge funds, reflecting growing interest from the investment community.

Tredje AP fonden acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,000 shares of the company's stock, valued at approximately $23,410,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Prospect Financial Services LLC lifted its stake in shares of MercadoLibre by 41.7% in the first quarter. Prospect Financial Services LLC now owns 340 shares of the company's stock valued at $663,000 after buying an additional 100 shares during the period. Stratos Investment Management LLC acquired a new position in MercadoLibre in the 1st quarter valued at approximately $203,000. JARISLOWSKY FRASER Ltd lifted its position in shares of MercadoLibre by 43.6% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 3,249 shares of the company's stock worth $5,525,000 after acquiring an additional 987 shares during the period. Avant Financial Advisors LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $316,000. Finally, Blue Sky Capital Consultants Group Inc. bought a new stake in shares of MercadoLibre during the fourth quarter valued at approximately $2,500,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Up 0.1%

Shares of NASDAQ:MELI traded up $2.03 during midday trading on Friday, hitting $2,375.92. The stock had a trading volume of 375,200 shares, compared to its average volume of 256,589. The company has a market cap of $120.45 billion, a P/E ratio of 58.43, a PEG ratio of 1.41 and a beta of 1.49. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The business's 50-day simple moving average is $2,455.84 and its 200-day simple moving average is $2,223.79. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating analysts' consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The company's quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.78 EPS. On average, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the subject of several research reports. The Goldman Sachs Group raised their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research report on Friday. They set a "buy" rating and a $3,000.00 target price on the stock. Susquehanna reiterated a "positive" rating and issued a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Finally, Benchmark lowered MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus price target of $2,707.50.

MercadoLibre Company 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.