Resona Asset Management Co. Ltd. Purchases 278 Shares of MercadoLibre, Inc. $MELI

Resona Asset Management Co. Ltd. raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,379 shares of the company’s stock after purchasing an additional 278 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $24,616,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brown Advisory Inc. increased its position in shares of MercadoLibre by 2,494.9% during the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock valued at $30,943,000 after buying an additional 14,770 shares during the period. Thompson Siegel & Walmsley LLC grew its stake in MercadoLibre by 238.3% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after acquiring an additional 1,430 shares in the last quarter. TIAA Trust National Association grew its stake in MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after acquiring an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC increased its holdings in MercadoLibre by 38.6% during the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after acquiring an additional 2,164 shares during the period. Finally, Employees Retirement System of Texas increased its holdings in MercadoLibre by 18.2% during the 4th quarter. Employees Retirement System of Texas now owns 40,184 shares of the company’s stock worth $80,941,000 after acquiring an additional 6,200 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of recent analyst reports. Morgan Stanley reduced their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research report on Wednesday, May 13th. Citigroup lowered MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $2,200.00 to $1,950.00 in a research note on Wednesday, May 13th. UBS Group reduced their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and decreased their target price for the stock from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the transaction, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Stock Down 0.1%

MELI opened at $1,807.83 on Friday. The business’s fifty day simple moving average is $1,674.19 and its 200 day simple moving average is $1,827.65. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The stock has a market cap of $91.65 billion, a PE ratio of 47.71, a P/E/G ratio of 1.11 and a beta of 1.35.

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

About MercadoLibre

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.