MercadoLibre, Inc. $MELI Position Lowered by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. cut its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 14,101 shares of the company’s stock after selling 540 shares during the period. Resona Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $28,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AMF Tjanstepension AB lifted its stake in MercadoLibre by 19.0% in the fourth quarter. AMF Tjanstepension AB now owns 134,513 shares of the company’s stock valued at $270,944,000 after buying an additional 21,451 shares during the last quarter. Profund Advisors LLC raised its stake in shares of MercadoLibre by 8.9% during the fourth quarter. Profund Advisors LLC now owns 3,993 shares of the company’s stock valued at $8,043,000 after purchasing an additional 327 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of MercadoLibre by 42.7% during the fourth quarter. ProShare Advisors LLC now owns 79,658 shares of the company’s stock valued at $160,452,000 after purchasing an additional 23,844 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in MercadoLibre by 2.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,337 shares of the company’s stock worth $6,722,000 after purchasing an additional 74 shares in the last quarter. Finally, Stronghold Wealth Management L.L.C. bought a new stake in MercadoLibre during the fourth quarter worth approximately $234,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MELI has been the topic of several recent analyst reports. Barclays cut their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and dropped their price target for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. JPMorgan Chase & Co. dropped their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Finally, Benchmark reduced their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, MercadoLibre presently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Stock Up 0.6%

MELI stock opened at $1,594.86 on Wednesday. The stock has a market capitalization of $80.86 billion, a price-to-earnings ratio of 42.09, a price-to-earnings-growth ratio of 0.98 and a beta of 1.41. The company has a 50-day moving average of $1,727.23 and a two-hundred day moving average of $1,933.17. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same period in the prior year, the business posted $9.74 earnings per share. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current year.

MercadoLibre Company Profile

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.