Livforsakringsbolaget Skandia Omsesidigt Makes New $523,000 Investment in MercadoLibre, Inc. $MELI

Livforsakringsbolaget Skandia Omsesidigt bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 308 shares of the company’s stock, valued at approximately $523,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MELI. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre in the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre in the 4th quarter worth approximately $28,000. Wedbush Fund Advisers LLC acquired a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $29,000. Finally, Darwin Wealth Management LLC purchased a new position in MercadoLibre in the 2nd quarter valued at approximately $29,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Trading Up 1.8%

Shares of MELI opened at $1,966.25 on Friday. The stock has a fifty day moving average of $1,824.45 and a two-hundred day moving average of $1,772.36. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The company has a market capitalization of $99.69 billion, a PE ratio of 53.47, a price-to-earnings-growth ratio of 1.35 and a beta of 1.34. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same quarter in the prior year, the company posted $10.31 EPS. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. As a group, analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on MercadoLibre from $1,900.00 to $2,150.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. UBS Group lowered their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target for the company. in a research report on Friday, May 8th. Cantor Fitzgerald lifted their price target on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a research report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Company Profile

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.