Asset Management One Co. Ltd. Grows Stake in MercadoLibre, Inc. $MELI

Asset Management One Co. Ltd. raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,003 shares of the company’s stock after acquiring an additional 1,513 shares during the period. Asset Management One Co. Ltd.’s holdings in MercadoLibre were worth $88,871,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Jennison Associates LLC grew its stake in shares of MercadoLibre by 1.6% in the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock worth $2,251,531,000 after acquiring an additional 18,731 shares during the last quarter. Invesco Ltd. grew its stake in shares of MercadoLibre by 22.4% in the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock worth $1,113,881,000 after acquiring an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of MercadoLibre by 21.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock worth $1,073,823,000 after acquiring an additional 96,283 shares during the last quarter. Generation Investment Management LLP boosted its position in shares of MercadoLibre by 3.3% during the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after buying an additional 16,878 shares during the last quarter. Finally, GQG Partners LLC boosted its position in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after buying an additional 87,912 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MELI has been the topic of several recent analyst reports. Scotiabank initiated coverage on MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price objective on the stock. Daiwa Capital Markets initiated coverage on MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $2,875.00 price objective on shares of MercadoLibre in a research report on Tuesday. Susquehanna dropped their price objective on MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a research report on Monday, October 13th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a research report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,799.12.

MercadoLibre Trading Up 2.5%

Shares of NASDAQ:MELI opened at $2,148.32 on Friday. The stock has a market capitalization of $108.91 billion, a price-to-earnings ratio of 53.06, a PEG ratio of 1.41 and a beta of 1.46. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock’s 50-day simple moving average is $2,320.26 and its two-hundred day simple moving average is $2,353.45. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). The firm had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the previous year, the business posted $10.48 earnings per share. Analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre 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.