Tredje AP fonden increased its stake in shares of Mercadolibre Inc (NASDAQ:MELI) by 19.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,262 shares of the company’s stock after acquiring an additional 537 shares during the period. Tredje AP fonden’s holdings in Mercadolibre were worth $1,594,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Aigen Investment Management LP purchased a new position in Mercadolibre during the first quarter worth approximately $981,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Mercadolibre by 13.6% in the fourth quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,603 shares of the company’s stock valued at $8,924,000 after purchasing an additional 1,862 shares during the period. Advisor Group Inc. raised its position in Mercadolibre by 8.6% in the fourth quarter. Advisor Group Inc. now owns 5,234 shares of the company’s stock valued at $2,993,000 after purchasing an additional 413 shares during the period. Bamco Inc. NY raised its position in Mercadolibre by 4.5% in the fourth quarter. Bamco Inc. NY now owns 151,945 shares of the company’s stock valued at $86,903,000 after purchasing an additional 6,546 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Mercadolibre by 153.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,433 shares of the company’s stock valued at $1,677,000 after purchasing an additional 2,077 shares during the period. 81.01% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on the company. Credit Suisse Group cut their price objective on Mercadolibre from $760.00 to $720.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. JPMorgan Chase & Co. boosted their price objective on Mercadolibre from $800.00 to $1,000.00 in a report on Wednesday, May 20th. Zacks Investment Research upgraded Mercadolibre from a “hold” rating to a “buy” rating and set a $846.00 price objective on the stock in a report on Wednesday, May 20th. Citigroup upgraded Mercadolibre from a “neutral” rating to a “buy” rating in a report on Wednesday, May 6th. Finally, BTIG Research boosted their price objective on Mercadolibre from $775.00 to $980.00 and gave the company a “buy” rating in a report on Monday, June 1st. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Mercadolibre has a consensus rating of “Buy” and a consensus price target of $774.90.

Shares of NASDAQ MELI traded down $5.93 during trading hours on Friday, reaching $965.51. The stock had a trading volume of 8,083 shares, compared to its average volume of 491,818. The firm has a market cap of $48.05 billion, a price-to-earnings ratio of -228.67 and a beta of 1.69. The company has a current ratio of 2.23, a quick ratio of 2.22 and a debt-to-equity ratio of 0.42. Mercadolibre Inc has a fifty-two week low of $422.22 and a fifty-two week high of $998.11. The firm has a 50-day moving average of $851.88 and a 200-day moving average of $663.39.

Mercadolibre (NASDAQ:MELI) last announced its earnings results on Tuesday, May 5th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.04. The firm had revenue of $652.09 million during the quarter, compared to analysts’ expectations of $609.27 million. Mercadolibre had a negative return on equity of 5.29% and a negative net margin of 8.28%. The business’s revenue was up 37.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.13 EPS. On average, equities analysts predict that Mercadolibre Inc will post -1.04 EPS for the current year.

Mercadolibre Company Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

Further Reading: Trade Deficit

Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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