Global X Japan Co. Ltd. Boosts Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Global X Japan Co. Ltd. boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 20.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,352 shares of the company’s stock after buying an additional 906 shares during the quarter. MercadoLibre accounts for approximately 1.4% of Global X Japan Co. Ltd.’s investment portfolio, making the stock its 22nd largest position. Global X Japan Co. Ltd.’s holdings in MercadoLibre were worth $10,982,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of MELI. GQG Partners LLC boosted its stake in MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after buying an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of MercadoLibre during the second quarter valued at $2,913,000. Janus Henderson Group PLC boosted its stake in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares during the period. Finally, Capital World Investors boosted its stake in shares of MercadoLibre by 12.7% during the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after purchasing an additional 95,029 shares during the period. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MELI. BTIG Research boosted their target price on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Susquehanna boosted their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Morgan Stanley lifted their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 price objective for the company. in a report on Wednesday, October 2nd. Finally, Barclays lifted their price objective on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Stock Performance

Shares of MercadoLibre stock opened at $2,067.82 on Wednesday. The company has a market capitalization of $104.83 billion, a PE ratio of 92.52, a P/E/G ratio of 1.25 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The company has a 50-day simple moving average of $2,041.70 and a two-hundred day simple moving average of $1,774.03. MercadoLibre, Inc. has a one year low of $1,141.04 and a one year high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the firm earned $5.16 earnings per share. The company’s revenue was up 41.5% on a year-over-year basis. Research analysts expect that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal 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.