Norinchukin Bank The Buys 871 Shares of MercadoLibre, Inc. $MELI

Norinchukin Bank The raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 170.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,382 shares of the company’s stock after acquiring an additional 871 shares during the quarter. Norinchukin Bank The’s holdings in MercadoLibre were worth $2,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Meiji Yasuda Life Insurance Co grew its holdings in MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock valued at $1,699,000 after purchasing an additional 5 shares during the period. Formidable Asset Management LLC grew its stake in shares of MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock worth $272,000 after acquiring an additional 5 shares during the period. Revolve Wealth Partners LLC increased its holdings in MercadoLibre by 4.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock worth $201,000 after acquiring an additional 5 shares during the last quarter. Sonora Investment Management Group LLC raised its stake in MercadoLibre by 3.1% in the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company’s stock valued at $328,000 after acquiring an additional 5 shares during the period. Finally, Beacon Capital Management LLC lifted its holdings in MercadoLibre by 8.3% during the first quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock valued at $127,000 after purchasing an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MercadoLibre stock opened at $2,430.62 on Friday. The firm’s fifty day moving average price is $2,411.33 and its 200-day moving average price is $2,273.82. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a market cap of $123.23 billion, a P/E ratio of 60.03, a price-to-earnings-growth ratio of 1.52 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter last year, the company posted $10.48 earnings per share. MercadoLibre’s revenue for the quarter was up 33.8% compared to the same quarter last year. On average, equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MELI shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $2,700.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Susquehanna reaffirmed a “positive” rating and issued a $2,975.00 price objective (up from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Scotiabank assumed coverage on shares of MercadoLibre in a report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 target price on the stock. UBS Group set a $3,000.00 target price on MercadoLibre in a research report on Monday, June 2nd. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $2,750.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $2,817.22.

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.