Mitsubishi UFJ Asset Management Co. Ltd. Invests $100.77 Million in MercadoLibre, Inc. $MELI

Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to its most recent filing with the SEC. The fund acquired 59,368 shares of the company’s stock, valued at approximately $100,771,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.12% of MercadoLibre as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bison Wealth LLC purchased a new position in MercadoLibre during the fourth quarter valued at approximately $206,000. Empowered Funds LLC lifted its stake in MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after purchasing an additional 49 shares in the last quarter. Focus Partners Wealth lifted its stake in MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares in the last quarter. Sivia Capital Partners LLC bought a new position in MercadoLibre in the 2nd quarter valued at $261,000. Finally, Gamco Investors INC. ET AL boosted its holdings in MercadoLibre by 21.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on MELI shares. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price target on the stock. in a report on Friday, May 8th. Citigroup lifted their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Cantor Fitzgerald upped their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Morgan Stanley dropped their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Stock Down 0.5%

MELI opened at $1,779.14 on Wednesday. The business’s fifty day simple moving average is $1,773.74 and its 200 day simple moving average is $1,778.68. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The stock has a market cap of $90.20 billion, a PE ratio of 48.39, a P/E/G ratio of 1.26 and a beta of 1.34.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the previous year, the company posted $10.31 EPS. MercadoLibre’s quarterly revenue was up 49.8% compared to the same quarter last year. As a group, research analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.