AIA Group Ltd Purchases 101 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

AIA Group Ltd raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,513 shares of the company’s stock after purchasing an additional 101 shares during the quarter. AIA Group Ltd’s holdings in MercadoLibre were worth $16,176,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MELI. Thrivent Financial for Lutherans lifted its stake in shares of MercadoLibre by 11.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 197 shares of the company’s stock valued at $404,000 after acquiring an additional 21 shares during the last quarter. Bridgewater Associates LP grew its holdings in shares of MercadoLibre by 17.0% during the third quarter. Bridgewater Associates LP now owns 1,837 shares of the company’s stock worth $3,769,000 after purchasing an additional 267 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in shares of MercadoLibre in the third quarter valued at approximately $273,000. Financial Counselors Inc. bought a new position in MercadoLibre in the 3rd quarter valued at approximately $207,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in MercadoLibre during the 3rd quarter worth approximately $224,000. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 2.3 %

Shares of NASDAQ MELI opened at $2,048.07 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The stock has a market capitalization of $103.83 billion, a P/E ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64. The company has a 50-day moving average price of $2,028.39 and a 200-day moving average price of $1,973.66.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald lifted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. The Goldman Sachs Group increased their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Barclays lifted their price objective on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Susquehanna raised their price target on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Finally, Bank of America upped their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $2,402.81.

About MercadoLibre

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.