Meiji Yasuda Asset Management Co Ltd. boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,602 shares of the company's stock after acquiring an additional 148 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in MercadoLibre were worth $4,425,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of MELI. Prestige Wealth Management Group LLC grew its holdings in MercadoLibre by 20.5% during the 4th quarter. Prestige Wealth Management Group LLC now owns 88 shares of the company's stock valued at $150,000 after purchasing an additional 15 shares in the last quarter. TIAA Trust National Association raised its holdings in MercadoLibre by 3,394.3% in the fourth quarter. TIAA Trust National Association now owns 8,037 shares of the company's stock valued at $13,666,000 after acquiring an additional 7,807 shares in the last quarter. Interchange Capital Partners LLC boosted its stake in MercadoLibre by 30.1% during the 4th quarter. Interchange Capital Partners LLC now owns 173 shares of the company's stock valued at $295,000 after acquiring an additional 40 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of MercadoLibre by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 205,628 shares of the company's stock worth $349,658,000 after purchasing an additional 2,900 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in MercadoLibre by 13.4% in the fourth quarter. LPL Financial LLC now owns 39,490 shares of the company's stock valued at $67,150,000 after buying an additional 4,678 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the stock. Raymond James raised shares of MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 price objective for the company in a report on Tuesday, January 21st. Wedbush decreased their price target on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a report on Monday, January 6th. New Street Research upgraded shares of MercadoLibre from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Bank of America lifted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, MercadoLibre currently has an average rating of "Buy" and a consensus price target of $2,402.81.
Check Out Our Latest Report on MercadoLibre
MercadoLibre Stock Down 2.3 %
NASDAQ:MELI traded down $47.78 on Friday, hitting $2,048.07. 326,428 shares of the company's stock traded hands, compared to its average volume of 374,317. The firm has a 50-day moving average price of $2,028.39 and a 200-day moving average price of $1,974.17. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The company has a market cap of $103.83 billion, a PE ratio of 54.33, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.
MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. Equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.
MercadoLibre Profile
(
Free Report)
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.
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