Danica Pension Livsforsikringsaktieselskab Boosts Stock Position in MercadoLibre, Inc. $MELI

Danica Pension Livsforsikringsaktieselskab increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,959 shares of the company’s stock after purchasing an additional 347 shares during the quarter. Danica Pension Livsforsikringsaktieselskab’s holdings in MercadoLibre were worth $10,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Diversify Advisory Services LLC grew its position in shares of MercadoLibre by 134.7% in the 2nd quarter. Diversify Advisory Services LLC now owns 528 shares of the company’s stock worth $961,000 after buying an additional 303 shares during the last quarter. Wealthfront Advisers LLC bought a new position in shares of MercadoLibre during the second quarter valued at approximately $1,073,000. Figure 8 Investment Strategies LLC bought a new position in shares of MercadoLibre during the second quarter valued at approximately $1,351,000. Deepwater Asset Management LLC purchased a new stake in MercadoLibre in the second quarter worth $7,143,000. Finally, Meeder Advisory Services Inc. purchased a new stake in MercadoLibre in the second quarter worth $1,545,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Benchmark dropped their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Morgan Stanley cut their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Scotiabank reduced their price target 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. Finally, BTIG Research reissued a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Thursday, August 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

Insider Transactions at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average cost 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. This trade represents a 12.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

MercadoLibre Stock Down 0.5%

Shares of NASDAQ:MELI opened at $1,779.14 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $1,773.74 and a two-hundred day simple moving average of $1,778.68. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The stock has a market capitalization of $90.20 billion, a price-to-earnings ratio of 48.39, a PEG ratio of 1.26 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 5th. The company reported $9.19 EPS 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 firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the prior year, the firm posted $10.31 earnings per share. The company’s quarterly revenue was up 49.8% on a year-over-year basis. On average, research analysts anticipate that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

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.