Nordea Investment Management AB Increases Stake in Mercadolibre Inc (MELI)
Nordea Investment Management AB grew its holdings in Mercadolibre Inc (NASDAQ:MELI) by 58.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 205,958 shares of the company’s stock after buying an additional 75,969 shares during the quarter. Nordea Investment Management AB owned approximately 0.47% of Mercadolibre worth $53,329,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. JGP Global Gestao de Recursos Ltda. acquired a new stake in shares of Mercadolibre in the third quarter valued at $9,166,000. TD Asset Management Inc. boosted its holdings in Mercadolibre by 92.6% in the third quarter. TD Asset Management Inc. now owns 22,597 shares of the company’s stock valued at $5,851,000 after acquiring an additional 10,866 shares during the last quarter. Flossbach Von Storch AG bought a new position in Mercadolibre in the third quarter valued at about $388,000. Majedie Asset Management Ltd boosted its holdings in Mercadolibre by 33.1% in the third quarter. Majedie Asset Management Ltd now owns 9,241 shares of the company’s stock valued at $2,393,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Regal Investment Advisors LLC bought a new position in Mercadolibre in the third quarter valued at about $214,000. Institutional investors own 84.92% of the company’s stock.
Mercadolibre Inc (NASDAQ:MELI) opened at $271.38 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. Mercadolibre Inc has a 1-year low of $148.98 and a 1-year high of $297.95. The stock has a market capitalization of $11,983.33, a PE ratio of 77.54, a price-to-earnings-growth ratio of 4.48 and a beta of 2.04.
Mercadolibre (NASDAQ:MELI) last issued its earnings results on Thursday, November 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.07. Mercadolibre had a return on equity of 34.78% and a net margin of 10.91%. The firm had revenue of $370.66 million for the quarter, compared to analysts’ expectations of $347.29 million. During the same quarter last year, the business earned $0.88 earnings per share. The company’s revenue was up 60.6% compared to the same quarter last year. sell-side analysts expect that Mercadolibre Inc will post 2.42 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Sunday, December 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Thursday, December 28th. Mercadolibre’s dividend payout ratio (DPR) is currently 19.93%.
Several equities analysts recently issued reports on the company. J P Morgan Chase & Co reiterated a “neutral” rating and issued a $270.00 price target on shares of Mercadolibre in a report on Wednesday, August 9th. Barclays PLC reiterated an “overweight” rating and issued a $275.00 price target (down previously from $290.00) on shares of Mercadolibre in a report on Friday, August 4th. Vetr upgraded Mercadolibre from a “buy” rating to a “strong-buy” rating and set a $316.69 price target on the stock in a report on Monday, August 7th. BidaskClub cut Mercadolibre from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Susquehanna Bancshares Inc decreased their price target on Mercadolibre from $275.00 to $230.00 in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Mercadolibre currently has a consensus rating of “Buy” and an average price target of $271.21.
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MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).
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