AIA Group Ltd Cuts Stock Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

AIA Group Ltd lessened its position in MercadoLibre, Inc. (NASDAQ:MELI) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,622 shares of the company’s stock after selling 169 shares during the quarter. AIA Group Ltd’s holdings in MercadoLibre were worth $8,500,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MELI. First PREMIER Bank acquired a new stake in MercadoLibre during the 1st quarter worth $27,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth about $28,000. Archer Investment Corp acquired a new position in MercadoLibre during the fourth quarter worth about $31,000. Larson Financial Group LLC purchased a new stake in MercadoLibre during the 4th quarter valued at about $36,000. Finally, DSM Capital Partners LLC acquired a new stake in MercadoLibre in the 4th quarter valued at about $36,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays lifted their price objective on MercadoLibre from $1,800.00 to $2,000.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. DZ Bank raised shares of MercadoLibre from a “hold” rating to a “buy” rating and set a $1,685.00 price objective for the company in a report on Tuesday, April 23rd. New Street Research downgraded shares of MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and increased their price target for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. Finally, UBS Group cut their price target on shares of MercadoLibre from $1,900.00 to $1,800.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average price target of $1,922.08.

MercadoLibre Trading Up 3.1 %

Shares of MELI stock traded up $52.57 on Friday, hitting $1,761.22. The stock had a trading volume of 335,191 shares, compared to its average volume of 372,014. The company’s 50 day moving average price is $1,661.19 and its 200-day moving average price is $1,611.18. MercadoLibre, Inc. has a 1 year low of $1,126.84 and a 1 year high of $1,825.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25. The firm has a market capitalization of $89.29 billion, a P/E ratio of 78.80, a P/E/G ratio of 1.24 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $6.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.64 by $0.14. MercadoLibre had a net margin of 7.17% and a return on equity of 39.46%. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the firm earned $3.97 earnings per share. The business’s revenue for the quarter was up 36.0% compared to the same quarter last year. Analysts anticipate that MercadoLibre, Inc. will post 33.81 earnings per share for the current year.

MercadoLibre Company 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.