Nordea Investment Management AB Has $219.97 Million Stock Holdings in MercadoLibre, Inc. $MELI

Nordea Investment Management AB lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 4.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 109,176 shares of the company’s stock after purchasing an additional 4,355 shares during the quarter. Nordea Investment Management AB’s holdings in MercadoLibre were worth $219,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MELI. Quadcap Wealth Management LLC increased its position in MercadoLibre by 4.2% in the 2nd quarter. Quadcap Wealth Management LLC now owns 124 shares of the company’s stock valued at $324,000 after acquiring an additional 5 shares in the last quarter. PFW Advisors LLC lifted its position in shares of MercadoLibre by 4.8% during the third quarter. PFW Advisors LLC now owns 110 shares of the company’s stock worth $257,000 after purchasing an additional 5 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of MercadoLibre by 3.5% during the third quarter. Yousif Capital Management LLC now owns 147 shares of the company’s stock worth $344,000 after purchasing an additional 5 shares in the last quarter. Wilkinson Global Asset Management LLC grew its stake in shares of MercadoLibre by 2.3% during the third quarter. Wilkinson Global Asset Management LLC now owns 226 shares of the company’s stock valued at $528,000 after purchasing an additional 5 shares during the last quarter. Finally, Hardy Reed LLC increased its holdings in shares of MercadoLibre by 4.0% in the third quarter. Hardy Reed LLC now owns 131 shares of the company’s stock valued at $306,000 after purchasing an additional 5 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of MELI stock opened at $1,635.76 on Monday. MercadoLibre, Inc. has a 52-week low of $1,631.18 and a 52-week high of $2,645.22. The stock has a market cap of $82.93 billion, a PE ratio of 41.52, a PEG ratio of 0.80 and a beta of 1.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. The firm’s 50 day moving average price is $1,948.16 and its two-hundred day moving average price is $2,089.23.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). The business had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.MercadoLibre’s revenue was up 44.6% on a year-over-year basis. During the same period in the prior year, the firm posted $12.61 EPS. As a group, analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on MELI shares. Barclays dropped their price objective on shares of MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. UBS Group decreased their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Weiss Ratings downgraded MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. lowered MercadoLibre from an “overweight” rating to a “neutral” rating and cut their price target for the company from $2,650.00 to $2,100.00 in a research note on Thursday, March 12th. Finally, Cantor Fitzgerald decreased their price target on MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,708.67.

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.