Nordea Investment Management AB Purchases 15,367 Shares of MercadoLibre, Inc. $MELI

Nordea Investment Management AB raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,821 shares of the company’s stock after purchasing an additional 15,367 shares during the period. Nordea Investment Management AB’s holdings in MercadoLibre were worth $247,494,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MELI. Hardman Johnston Global Advisors LLC increased its position in shares of MercadoLibre by 10.4% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 77,574 shares of the company’s stock valued at $181,286,000 after purchasing an additional 7,317 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in MercadoLibre by 2.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,567 shares of the company’s stock valued at $3,662,000 after acquiring an additional 33 shares during the last quarter. First Horizon Corp purchased a new position in shares of MercadoLibre during the third quarter worth approximately $208,000. MGO One Seven LLC raised its stake in shares of MercadoLibre by 3.5% during the third quarter. MGO One Seven LLC now owns 414 shares of the company’s stock worth $967,000 after acquiring an additional 14 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of MercadoLibre by 120.1% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 317 shares of the company’s stock worth $742,000 after acquiring an additional 173 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,073.57 on Wednesday. The company’s fifty day simple moving average is $2,054.67 and its two-hundred day simple moving average is $2,244.75. MercadoLibre, Inc. has a 12-month low of $1,723.90 and a 12-month high of $2,645.22. The firm has a market cap of $105.12 billion, a PE ratio of 50.60, a price-to-earnings-growth ratio of 1.07 and a beta of 1.42. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The firm had revenue of $7.41 billion for the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The business’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.83 earnings per share. As a group, equities analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

MELI has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,600.00 to $2,650.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Susquehanna cut their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research report on Monday, October 13th. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Finally, Citigroup dropped their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,842.94.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total transaction of $91,231.65. Following the transaction, the director directly owned 257 shares of the company’s stock, valued at approximately $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is currently owned by company insiders.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.