MercadoLibre, Inc. (NASDAQ:MELI) Shares Bought by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 13.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,105 shares of the company’s stock after buying an additional 2,607 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $28,026,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MELI. EverSource Wealth Advisors LLC grew its holdings in shares of MercadoLibre by 30.8% in the second quarter. EverSource Wealth Advisors LLC now owns 34 shares of the company’s stock valued at $40,000 after purchasing an additional 8 shares in the last quarter. Savant Capital LLC grew its holdings in shares of MercadoLibre by 4.0% in the second quarter. Savant Capital LLC now owns 208 shares of the company’s stock valued at $246,000 after purchasing an additional 8 shares in the last quarter. Synergy Financial Group LTD grew its holdings in shares of MercadoLibre by 0.5% in the third quarter. Synergy Financial Group LTD now owns 1,601 shares of the company’s stock valued at $2,030,000 after purchasing an additional 8 shares in the last quarter. Analyst IMS Investment Management Services Ltd. grew its holdings in shares of MercadoLibre by 1.3% in the second quarter. Analyst IMS Investment Management Services Ltd. now owns 691 shares of the company’s stock valued at $809,000 after purchasing an additional 9 shares in the last quarter. Finally, IMA Wealth Inc. grew its holdings in shares of MercadoLibre by 1.0% in the second quarter. IMA Wealth Inc. now owns 943 shares of the company’s stock valued at $1,117,000 after purchasing an additional 9 shares in the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MELI. Bank of America upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and set a $2,000.00 price objective for the company in a report on Monday, November 27th. Wedbush lifted their price target on shares of MercadoLibre from $1,700.00 to $1,800.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 27th. StockNews.com downgraded shares of MercadoLibre from a “buy” rating to a “hold” rating in a research note on Thursday, December 28th. Susquehanna lifted their price target on shares of MercadoLibre from $1,625.00 to $1,850.00 and gave the stock a “positive” rating in a research note on Tuesday, November 28th. Finally, Citigroup lifted their price target on shares of MercadoLibre from $1,550.00 to $1,900.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $1,752.50.

Read Our Latest Stock Report on MELI

MercadoLibre Stock Down 2.4 %

Shares of NASDAQ:MELI opened at $1,735.30 on Wednesday. The company has a market capitalization of $87.74 billion, a PE ratio of 88.81, a P/E/G ratio of 1.19 and a beta of 1.56. The company has a current ratio of 1.27, a quick ratio of 1.24 and a debt-to-equity ratio of 0.80. MercadoLibre, Inc. has a twelve month low of $1,063.02 and a twelve month high of $1,800.09. The firm has a 50 day simple moving average of $1,618.28 and a 200-day simple moving average of $1,407.74.

MercadoLibre (NASDAQ:MELIGet Free Report) last released its quarterly earnings results on Wednesday, November 1st. The company reported $7.16 EPS for the quarter, beating the consensus estimate of $5.88 by $1.28. MercadoLibre had a net margin of 7.47% and a return on equity of 44.56%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the firm earned $2.56 EPS. MercadoLibre’s revenue for the quarter was up 43.0% on a year-over-year basis. On average, equities analysts predict that MercadoLibre, Inc. will post 22.3 EPS for the current fiscal year.

MercadoLibre Profile

(Free Report)

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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