Tokio Marine Asset Management Co. Ltd. Acquires 31 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Tokio Marine Asset Management Co. Ltd. grew its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,311 shares of the company’s stock after acquiring an additional 31 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $2,690,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. GQG Partners LLC increased its holdings in MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after acquiring an additional 648,198 shares during the period. International Assets Investment Management LLC increased its holdings in shares of MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock worth $509,506,000 after purchasing an additional 248,181 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of MercadoLibre in the second quarter worth $2,913,000. Finally, Janus Henderson Group PLC boosted its stake in MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Down 2.8 %

MELI opened at $1,876.20 on Friday. The stock has a market cap of $95.12 billion, a PE ratio of 66.20, a PEG ratio of 1.31 and a beta of 1.61. The business has a 50 day moving average of $2,042.97 and a 200-day moving average of $1,837.63. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MELI shares. Susquehanna raised their target price on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research note on Wednesday, August 28th. Bank of America lifted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. The Goldman Sachs Group increased their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Raymond James started coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective on the stock. Finally, BTIG Research decreased their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Three investment 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 stock. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price 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.