Nordea Investment Management AB Sells 1,869 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Nordea Investment Management AB trimmed its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 138,046 shares of the company’s stock after selling 1,869 shares during the quarter. Nordea Investment Management AB owned approximately 0.27% of MercadoLibre worth $217,704,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Synergy Financial Group LTD raised its stake in shares of MercadoLibre by 0.5% in the third quarter. Synergy Financial Group LTD now owns 1,601 shares of the company’s stock valued at $2,030,000 after acquiring an additional 8 shares during the period. Gateway Advisory LLC raised its stake in shares of MercadoLibre by 1.9% in the third quarter. Gateway Advisory LLC now owns 430 shares of the company’s stock valued at $545,000 after acquiring an additional 8 shares during the period. Contravisory Investment Management Inc. raised its stake in shares of MercadoLibre by 7.4% in the third quarter. Contravisory Investment Management Inc. now owns 130 shares of the company’s stock valued at $165,000 after acquiring an additional 9 shares during the period. Catalyst Capital Advisors LLC raised its stake in shares of MercadoLibre by 32.1% in the third quarter. Catalyst Capital Advisors LLC now owns 37 shares of the company’s stock valued at $47,000 after acquiring an additional 9 shares during the period. Finally, IMA Wealth Inc. increased its stake in MercadoLibre by 1.0% in the 2nd quarter. IMA Wealth Inc. now owns 943 shares of the company’s stock worth $1,117,000 after buying an additional 9 shares during the period. 80.01% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 4.0 %

Shares of MELI opened at $1,499.51 on Monday. MercadoLibre, Inc. has a 52-week low of $1,063.02 and a 52-week high of $1,825.00. The company has a quick ratio of 1.24, a current ratio of 1.27 and a debt-to-equity ratio of 0.72. The firm’s fifty day moving average is $1,667.41 and its two-hundred day moving average is $1,502.47. The stock has a market cap of $76.03 billion, a PE ratio of 76.74, a price-to-earnings-growth ratio of 1.05 and a beta of 1.45.

MercadoLibre (NASDAQ:MELIGet Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.66 by ($3.41). The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.14 billion. MercadoLibre had a net margin of 6.82% and a return on equity of 39.07%. The firm’s quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.25 earnings per share. Research analysts forecast that MercadoLibre, Inc. will post 34.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on MELI. Susquehanna raised their price target on shares of MercadoLibre from $1,850.00 to $2,000.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Wedbush reaffirmed an “outperform” rating and issued a $2,000.00 price target on shares of MercadoLibre in a research note on Tuesday, March 5th. Barclays increased their target price on shares of MercadoLibre from $1,900.00 to $2,000.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of MercadoLibre from $2,000.00 to $2,150.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,815.00.

View Our Latest Report on MercadoLibre

MercadoLibre Company Profile

(Free Report)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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