Nomura Asset Management Co. Ltd. Has $32.64 Million Stock Position in MercadoLibre, Inc. $MELI

Nomura Asset Management Co. Ltd. trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 11.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,204 shares of the company’s stock after selling 2,110 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $32,639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Weitz Investment Management Inc. acquired a new position in shares of MercadoLibre during the 3rd quarter worth about $8,647,000. Principal Financial Group Inc. grew its position in shares of MercadoLibre by 18.7% during the 3rd quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock worth $112,414,000 after buying an additional 7,570 shares during the period. Penserra Capital Management LLC grew its position in shares of MercadoLibre by 34.5% during the 3rd quarter. Penserra Capital Management LLC now owns 3,014 shares of the company’s stock worth $7,042,000 after buying an additional 773 shares during the period. Integrated Financial Solutions Inc. grew its position in shares of MercadoLibre by 129.7% during the 4th quarter. Integrated Financial Solutions Inc. now owns 2,109 shares of the company’s stock worth $4,248,000 after buying an additional 1,191 shares during the period. Finally, Rathbones Group PLC grew its position in shares of MercadoLibre by 54.4% during the 4th quarter. Rathbones Group PLC now owns 14,989 shares of the company’s stock worth $30,192,000 after buying an additional 5,283 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

MELI has been the subject of several analyst reports. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Citigroup cut MercadoLibre from a “buy” rating to a “neutral” rating and cut their price objective for the company from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and cut their price objective for the company from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. Finally, Daiwa Securities Group cut MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Trading Up 2.1%

Shares of MercadoLibre stock opened at $1,730.98 on Tuesday. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,645.22. The stock has a market cap of $87.76 billion, a P/E ratio of 45.68, a P/E/G ratio of 1.04 and a beta of 1.36. 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 business’s 50 day moving average is $1,720.80 and its 200-day moving average is $1,898.53.

MercadoLibre (NASDAQ:MELI) last announced 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). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the company earned $9.74 EPS. The company’s revenue for the quarter was up 49.0% on a year-over-year basis. Equities research analysts predict 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.