Norges Bank Purchases Shares of 376,166 Mercadolibre Inc (MELI)

Norges Bank bought a new position in shares of Mercadolibre Inc (NASDAQ:MELI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 376,166 shares of the company’s stock, valued at approximately $110,161,000. Norges Bank owned 0.83% of Mercadolibre as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MELI. Csenge Advisory Group acquired a new stake in shares of Mercadolibre during the third quarter worth about $42,000. We Are One Seven LLC acquired a new position in Mercadolibre in the fourth quarter valued at approximately $51,000. Larson Financial Group LLC acquired a new position in Mercadolibre in the fourth quarter valued at approximately $59,000. Bogart Wealth LLC lifted its holdings in Mercadolibre by 15.8% in the fourth quarter. Bogart Wealth LLC now owns 374 shares of the company’s stock valued at $109,000 after acquiring an additional 51 shares during the period. Finally, Executive Wealth Management LLC acquired a new position in Mercadolibre in the fourth quarter valued at approximately $112,000. 91.14% of the stock is owned by hedge funds and other institutional investors.

Shares of MELI stock opened at $489.52 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.30 and a quick ratio of 1.29. The company has a market cap of $22.13 billion, a PE ratio of -596.98 and a beta of 2.22. Mercadolibre Inc has a 1-year low of $257.52 and a 1-year high of $527.09.

Mercadolibre (NASDAQ:MELI) last announced its earnings results on Tuesday, February 26th. The company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.13. The business had revenue of $428.00 million during the quarter, compared to the consensus estimate of $400.80 million. Mercadolibre had a negative return on equity of 13.47% and a negative net margin of 2.54%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company posted ($1.53) EPS. On average, sell-side analysts forecast that Mercadolibre Inc will post 0.4 earnings per share for the current fiscal year.

A number of research analysts have issued reports on MELI shares. BTIG Research reissued a “buy” rating and issued a $410.00 price target on shares of Mercadolibre in a report on Wednesday, January 16th. Credit Suisse Group boosted their price target on Mercadolibre from $387.00 to $398.00 and gave the company an “outperform” rating in a report on Monday, January 28th. Stifel Nicolaus reissued a “buy” rating and issued a $460.00 price target on shares of Mercadolibre in a report on Wednesday, February 27th. BidaskClub raised Mercadolibre from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 6th. Finally, Piper Jaffray Companies boosted their price target on Mercadolibre to $442.00 and gave the company an “overweight” rating in a report on Wednesday, February 27th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $447.92.

In other Mercadolibre news, Director Emiliano Calemzuk bought 120 shares of Mercadolibre stock in a transaction dated Saturday, March 9th. The stock was acquired at an average cost of $414.14 per share, with a total value of $49,696.80. Following the purchase, the director now directly owns 2,669 shares in the company, valued at approximately $1,105,339.66. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

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Mercadolibre Company Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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