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

Danica Pension Livsforsikringsaktieselskab boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 6.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,959 shares of the company’s stock after buying an additional 347 shares during the period. Danica Pension Livsforsikringsaktieselskab’s holdings in MercadoLibre were worth $10,115,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MELI. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre in the second quarter worth $29,000. Laurel Wealth Advisors LLC bought a new position in shares of MercadoLibre during the fourth quarter valued at $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre during the fourth quarter valued at $26,000. Purpose Unlimited Inc. purchased a new stake in shares of MercadoLibre during the fourth quarter valued at $28,000. Finally, Curio Wealth LLC bought a new stake in MercadoLibre in the 4th quarter worth about $30,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Performance

MELI opened at $1,779.14 on Wednesday. The firm has a market cap of $90.20 billion, a P/E ratio of 48.39, a PEG ratio of 1.26 and a beta of 1.34. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The company has a 50 day simple moving average of $1,773.74 and a two-hundred day simple moving average of $1,778.68. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the prior year, the company posted $10.31 earnings per share. Equities analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MELI. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. BTIG Research reiterated a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a research note on Thursday, August 6th. Cantor Fitzgerald boosted their price objective on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Citigroup increased their price objective on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.

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.