Daiwa Securities Group Inc. Has $23.42 Million Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Daiwa Securities Group Inc. grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 75.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,414 shares of the company’s stock after purchasing an additional 4,909 shares during the quarter. Daiwa Securities Group Inc.’s holdings in MercadoLibre were worth $23,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Jennison Associates LLC grew its holdings in MercadoLibre by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 1,873,919 shares of the company’s stock valued at $3,845,207,000 after buying an additional 70,154 shares during the last quarter. Legal & General Group Plc grew its stake in shares of MercadoLibre by 3.6% in the second quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after acquiring an additional 11,265 shares during the last quarter. Royal London Asset Management Ltd. increased its position in MercadoLibre by 17.0% during the second quarter. Royal London Asset Management Ltd. now owns 277,206 shares of the company’s stock worth $455,560,000 after acquiring an additional 40,361 shares during the period. Canada Pension Plan Investment Board raised its stake in MercadoLibre by 12.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 258,455 shares of the company’s stock valued at $424,745,000 after purchasing an additional 27,832 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in MercadoLibre by 205,108.3% in the 3rd quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

MercadoLibre Stock Up 1.9 %

Shares of NASDAQ MELI opened at $2,005.00 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $101.65 billion, a PE ratio of 70.75, a price-to-earnings-growth ratio of 1.37 and a beta of 1.61. The firm’s 50-day moving average is $2,025.17 and its 200-day moving average is $1,857.20. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MELI shares. Bank of America boosted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Wedbush reaffirmed an “outperform” rating and issued a $2,200.00 price target (up previously from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Susquehanna lifted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a report on Wednesday, August 28th. BTIG Research reduced their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Redburn Atlantic initiated coverage on shares of MercadoLibre in a report on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target on the stock. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $2,269.67.

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.