MercadoLibre, Inc. $MELI Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,630 shares of the company’s stock after acquiring an additional 155 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in MercadoLibre were worth $12,101,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MELI. Key Financial Inc purchased a new stake in shares of MercadoLibre in the first quarter valued at approximately $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre during the first quarter worth $25,000. Park Square Financial Group LLC acquired a new position in MercadoLibre during the fourth quarter worth $26,000. Close Asset Management Ltd lifted its stake in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after purchasing an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in MercadoLibre by 650.0% in the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after purchasing an additional 13 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MELI shares. UBS Group set a $3,000.00 target price on MercadoLibre in a report on Monday, June 2nd. Scotiabank assumed coverage on MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target for the company. Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,700.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Finally, Citigroup reduced their price objective on MercadoLibre from $2,900.00 to $2,850.00 and set a “buy” rating for the company in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $2,817.22.

MercadoLibre Stock Performance

Shares of MELI stock opened at $2,476.37 on Friday. The stock has a market capitalization of $125.55 billion, a PE ratio of 61.16, a price-to-earnings-growth ratio of 1.59 and a beta of 1.49. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The stock’s 50-day moving average price is $2,380.81 and its 200 day moving average price is $2,313.86. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). The business had revenue of $6.79 billion for 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 business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period last year, the company posted $10.48 earnings per share. As a group, equities research analysts forecast 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.