Asset Management One Co. Ltd. Trims Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Asset Management One Co. Ltd. lessened its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,304 shares of the company’s stock after selling 635 shares during the period. Asset Management One Co. Ltd.’s holdings in MercadoLibre were worth $64,235,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. O Dell Group LLC boosted its position in shares of MercadoLibre by 2.1% in the 1st quarter. O Dell Group LLC now owns 294 shares of the company’s stock worth $445,000 after purchasing an additional 6 shares in the last quarter. Belpointe Asset Management LLC increased its stake in MercadoLibre by 1.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock worth $1,016,000 after buying an additional 6 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of MercadoLibre by 0.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after purchasing an additional 6 shares during the last quarter. Evolutionary Tree Capital Management LLC boosted its holdings in shares of MercadoLibre by 0.3% during the 2nd quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after purchasing an additional 6 shares during the last quarter. Finally, Strategic Blueprint LLC lifted its holdings in shares of MercadoLibre by 0.9% in the 3rd quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after acquiring an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI stock traded up $7.93 on Monday, reaching $2,062.83. 13,888 shares of the company were exchanged, compared to its average volume of 344,080. The firm has a market capitalization of $104.58 billion, a PE ratio of 72.69, a PEG ratio of 1.24 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The stock’s fifty day moving average price is $2,050.38 and its 200 day moving average price is $1,807.21. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.16 EPS. On average, research analysts anticipate that MercadoLibre, Inc. will post 37.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MELI. Morgan Stanley raised their target price on shares of MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Redburn Atlantic started coverage on shares of MercadoLibre in a research note on Friday, October 11th. They set a “buy” rating and a $2,800.00 target price for the company. Susquehanna upped their price objective 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. Raymond James assumed coverage on shares of MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Finally, BTIG Research increased 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 report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,301.67.

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.