Resona Asset Management Co. Ltd. Acquires Shares of 13,673 MercadoLibre, Inc. (NASDAQ:MELI)

Resona Asset Management Co. Ltd. bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,673 shares of the company's stock, valued at approximately $23,294,000.

A number of other institutional investors have also bought and sold shares of the company. Wealthfront Advisers LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at $565,306,000. Norges Bank acquired a new stake in MercadoLibre in the fourth quarter worth $383,051,000. Strategic Financial Concepts LLC increased its stake in MercadoLibre by 169,952.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 181,956 shares of the company's stock valued at $309,405,000 after purchasing an additional 181,849 shares in the last quarter. Wellington Management Group LLP increased its stake in MercadoLibre by 52.9% in the third quarter. Wellington Management Group LLP now owns 349,678 shares of the company's stock valued at $717,525,000 after purchasing an additional 120,922 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of MercadoLibre during the third quarter valued at about $114,417,000. Institutional investors own 87.62% of the company's stock.

MercadoLibre Stock Performance

Shares of MercadoLibre stock traded up $28.69 during trading hours on Friday, hitting $1,962.68. 136,356 shares of the company's stock traded hands, compared to its average volume of 387,407. The stock has a market capitalization of $99.50 billion, a price-to-earnings ratio of 52.15, a PEG ratio of 1.12 and a beta of 1.62. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company has a fifty day simple moving average of $2,035.55 and a 200-day simple moving average of $1,959.84.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MELI. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. Bank of America boosted their price objective on MercadoLibre from $2,500.00 to $3,000.00 and gave the company a "buy" rating in a report on Friday, February 21st. Raymond James upgraded MercadoLibre from an "outperform" rating to a "strong-buy" rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a "neutral" rating in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $2,409.69.

MercadoLibre Company Profile

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.