Swedbank AB Reduces Stock Position in MercadoLibre, Inc. $MELI

Swedbank AB cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 86.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 22,959 shares of the company’s stock after selling 142,925 shares during the period. Swedbank AB’s holdings in MercadoLibre were worth $39,697,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Clay Northam Wealth Management LLC increased its stake in MercadoLibre by 28.2% during the first quarter. Clay Northam Wealth Management LLC now owns 527 shares of the company’s stock worth $911,000 after acquiring an additional 116 shares during the last quarter. Shelton Wealth Management LLC lifted its stake in shares of MercadoLibre by 12.2% in the 1st quarter. Shelton Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $1,729,000 after purchasing an additional 109 shares during the last quarter. Canvas Wealth Advisors LLC lifted its stake in shares of MercadoLibre by 11.3% in the 1st quarter. Canvas Wealth Advisors LLC now owns 1,791 shares of the company’s stock valued at $3,097,000 after purchasing an additional 182 shares during the last quarter. Collaborative Fund Advisors LLC purchased a new position in shares of MercadoLibre in the 1st quarter worth approximately $2,291,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of MercadoLibre by 37.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,739 shares of the company’s stock worth $2,974,000 after purchasing an additional 474 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,809.38 on Thursday. The company has a 50 day moving average price of $1,673.87 and a 200-day moving average price of $1,828.99. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a market capitalization of $91.74 billion, a PE ratio of 47.75, a P/E/G ratio of 1.12 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the prior year, the company posted $9.74 earnings per share. MercadoLibre’s quarterly revenue was up 49.0% compared to the same quarter last year. As a group, equities analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MELI has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research note on Tuesday, June 2nd. Scotiabank cut their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Barclays reduced their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Finally, Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and lowered their target price for the stock from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $2,255.33.

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.