Daiwa Securities Group Inc. Lowers Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Daiwa Securities Group Inc. lowered its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 14.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 9,753 shares of the company's stock after selling 1,661 shares during the quarter. Daiwa Securities Group Inc.'s holdings in MercadoLibre were worth $16,584,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Main Street Research LLC raised its position in shares of MercadoLibre by 117.0% in the 4th quarter. Main Street Research LLC now owns 15,022 shares of the company's stock worth $25,544,000 after acquiring an additional 8,099 shares in the last quarter. Isthmus Partners LLC bought a new position in shares of MercadoLibre in the 4th quarter worth approximately $216,000. NBT Bank N A NY raised its position in shares of MercadoLibre by 15.4% in the 4th quarter. NBT Bank N A NY now owns 135 shares of the company's stock worth $230,000 after acquiring an additional 18 shares in the last quarter. Argentarii LLC bought a new position in shares of MercadoLibre in the 4th quarter worth approximately $216,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its position in shares of MercadoLibre by 4.6% in the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 203 shares of the company's stock worth $345,000 after acquiring an additional 9 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MELI shares. Cantor Fitzgerald increased their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Susquehanna raised their price objective on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research report on Friday, February 21st. Citigroup reduced their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating for the company in a research report on Tuesday, November 26th. Bank of America raised their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group raised their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $2,402.81.

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MercadoLibre Stock Performance

Shares of MELI stock traded down $1.44 on Wednesday, reaching $1,988.67. The stock had a trading volume of 276,081 shares, compared to its average volume of 403,988. The stock has a market cap of $100.82 billion, a P/E ratio of 52.69, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a 50 day simple moving average of $1,952.66 and a 200 day simple moving average of $1,969.27. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

About MercadoLibre

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.