Resona Asset Management Co. Ltd. Buys 585 Shares of MercadoLibre, Inc. $MELI

Resona Asset Management Co. Ltd. raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 4.0% during the second quarter, HoldingsChannel.com reports. The fund owned 15,308 shares of the company’s stock after acquiring an additional 585 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $39,900,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Optimize Financial Inc grew its holdings in shares of MercadoLibre by 1.7% during the first quarter. Optimize Financial Inc now owns 238 shares of the company’s stock worth $464,000 after purchasing an additional 4 shares during the last quarter. Range Financial Group LLC grew its holdings in shares of MercadoLibre by 2.7% during the second quarter. Range Financial Group LLC now owns 188 shares of the company’s stock worth $491,000 after purchasing an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of MercadoLibre by 26.3% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company’s stock worth $63,000 after purchasing an additional 5 shares during the last quarter. Forum Financial Management LP grew its holdings in shares of MercadoLibre by 3.1% during the first quarter. Forum Financial Management LP now owns 199 shares of the company’s stock worth $388,000 after purchasing an additional 6 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in shares of MercadoLibre by 37.5% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 22 shares of the company’s stock worth $43,000 after purchasing an additional 6 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 0.2%

NASDAQ:MELI opened at $2,301.88 on Thursday. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The business’s 50-day moving average price is $2,304.52 and its two-hundred day moving average price is $2,377.13. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $116.70 billion, a price-to-earnings ratio of 56.17, a PEG ratio of 1.56 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The company had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same period in the previous year, the company posted $7.83 EPS. The company’s quarterly revenue was up 39.5% compared to the same quarter last year. On average, equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

MELI has been the topic of several research analyst reports. Citigroup decreased their target price on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating on the stock in a report on Thursday, October 9th. Morgan Stanley increased their target price on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a report on Friday, October 31st. Benchmark decreased their price target on MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $2,800.00 price target 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 assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,822.35.

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.