Mirae Asset Global Investments Co. Ltd. Raises Position in MercadoLibre, Inc. (NASDAQ:MELI)

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 10.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 17,092 shares of the company’s stock after acquiring an additional 1,600 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in MercadoLibre were worth $33,359,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Capital World Investors grew its holdings in shares of MercadoLibre by 12.7% during the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares in the last quarter. GQG Partners LLC grew its stake in MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after buying an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of MercadoLibre by 3.6% during the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock valued at $531,755,000 after buying an additional 11,265 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MELI shares. Redburn Atlantic assumed coverage on MercadoLibre in a research report on Friday, October 11th. They set a “buy” rating and a $2,800.00 price target on the stock. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $2,530.00 price target on shares of MercadoLibre in a research note on Monday, October 7th. Bank of America upped their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Price Performance

Shares of MELI stock opened at $2,047.35 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. The firm has a market cap of $103.80 billion, a P/E ratio of 73.99, a P/E/G ratio of 1.26 and a beta of 1.61. The business’s 50 day moving average price is $2,045.69 and its 200-day moving average price is $1,777.82. MercadoLibre, Inc. has a fifty-two week low of $1,162.73 and a fifty-two week high of $2,161.73.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the business posted $5.16 earnings per share. The firm’s revenue for the quarter was up 41.5% compared to the same quarter last year. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

About MercadoLibre

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.