MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 68.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,767 shares of the company’s stock after buying an additional 53,858 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.26% of MercadoLibre worth $225,765,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Capital Research Global Investors grew its stake in MercadoLibre by 8.0% during the fourth quarter. Capital Research Global Investors now owns 2,415,815 shares of the company’s stock worth $4,108,079,000 after buying an additional 179,807 shares during the period. Capital International Investors grew its stake in MercadoLibre by 38.7% during the fourth quarter. Capital International Investors now owns 1,687,114 shares of the company’s stock worth $2,868,869,000 after buying an additional 470,829 shares during the period. Capital World Investors grew its stake in MercadoLibre by 24.5% during the fourth quarter. Capital World Investors now owns 1,568,602 shares of the company’s stock worth $2,667,386,000 after buying an additional 308,973 shares during the period. Price T Rowe Associates Inc. MD grew its stake in MercadoLibre by 41.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,394,255 shares of the company’s stock worth $2,370,848,000 after buying an additional 405,425 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of MercadoLibre by 0.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 545,292 shares of the company’s stock worth $927,239,000 after purchasing an additional 2,048 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on MELI. The Goldman Sachs Group increased their target price on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Barclays increased their target price on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the company an “overweight” rating in a research report on Thursday. Cantor Fitzgerald reduced their price objective on shares of MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Susquehanna raised their price objective on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a research report on Friday, February 21st. Finally, Benchmark lowered shares of MercadoLibre from a “buy” rating to a “cautious” rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2,504.67.

MercadoLibre Price Performance

Shares of MELI opened at $2,452.53 on Monday. The firm has a market cap of $124.34 billion, a PE ratio of 65.05, a PEG ratio of 1.12 and a beta of 1.61. The firm’s 50 day moving average price is $2,081.98 and its 200 day moving average price is $1,981.52. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a twelve month low of $1,550.00 and a twelve month high of $2,525.00.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the firm posted $6.78 earnings per share. The company’s quarterly revenue was up 37.0% compared to the same quarter last year. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.