KLP Kapitalforvaltning AS Purchases 800 Shares of MercadoLibre, Inc. $MELI

KLP Kapitalforvaltning AS grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.2% during the second quarter, Holdings Channel reports. The institutional investor owned 16,300 shares of the company’s stock after acquiring an additional 800 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in MercadoLibre were worth $42,602,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Ninety One North America Inc. boosted its stake in MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after acquiring an additional 1,080 shares in the last quarter. Banco Santander S.A. lifted its holdings in shares of MercadoLibre by 221.9% during the 1st quarter. Banco Santander S.A. now owns 2,746 shares of the company’s stock valued at $5,357,000 after purchasing an additional 1,893 shares during the last quarter. Stratos Investment Management LLC acquired a new stake in shares of MercadoLibre in the 1st quarter worth $203,000. Bosman Wealth Management LLC grew its stake in MercadoLibre by 88.5% during the 2nd quarter. Bosman Wealth Management LLC now owns 1,001 shares of the company’s stock worth $2,616,000 after buying an additional 470 shares during the last quarter. Finally, Ground Swell Capital LLC purchased a new position in MercadoLibre during the 1st quarter worth $439,000. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Daiwa Capital Markets assumed coverage on MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price target for the company. Barclays decreased their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. dropped their target price on shares of MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday. Benchmark reaffirmed a “buy” rating and issued a $2,875.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Wall Street Zen lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,822.78.

MercadoLibre Stock Down 0.9%

MercadoLibre stock opened at $2,154.22 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18. The stock has a market capitalization of $109.22 billion, a PE ratio of 53.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.46. The business has a 50 day simple moving average of $2,378.30 and a 200-day simple moving average of $2,345.89. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 43.06% and a net margin of 8.52%.The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter last year, the company earned $10.48 EPS. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

About MercadoLibre

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.