Handelsbanken Fonder AB Buys 457 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Handelsbanken Fonder AB grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,191 shares of the company’s stock after purchasing an additional 457 shares during the period. Handelsbanken Fonder AB’s holdings in MercadoLibre were worth $45,535,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MELI. First PREMIER Bank bought a new position in MercadoLibre during the 1st quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after buying an additional 16 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at approximately $36,000. Financial Connections Group Inc. bought a new position in MercadoLibre in the 2nd quarter valued at $36,000. Finally, Transcendent Capital Group LLC purchased a new stake in MercadoLibre in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on MELI shares. Susquehanna upped their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Citigroup lifted their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Morgan Stanley boosted their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, StockNews.com downgraded MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,246.07.

MercadoLibre Stock Up 0.0 %

MELI traded up $0.80 on Friday, hitting $1,960.00. The company had a trading volume of 315,878 shares, compared to its average volume of 355,040. The stock has a market capitalization of $99.37 billion, a price-to-earnings ratio of 87.70, a P/E/G ratio of 1.34 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The stock has a fifty day moving average price of $1,975.39 and a 200-day moving average price of $1,728.02. MercadoLibre, Inc. has a 12-month low of $1,141.04 and a 12-month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The company’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.16 EPS. Analysts predict that MercadoLibre, Inc. will post 35.79 EPS for the current fiscal year.

MercadoLibre Company Profile

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.