Resona Asset Management Co. Ltd. Acquires Shares of 13,673 MercadoLibre, Inc. (NASDAQ:MELI)

Resona Asset Management Co. Ltd. bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 13,673 shares of the company’s stock, valued at approximately $23,294,000.

Other institutional investors have also modified their holdings of the company. 1620 Investment Advisors Inc. raised its position in shares of MercadoLibre by 2.5% in the 4th quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock valued at $346,000 after purchasing an additional 5 shares in the last quarter. Nvwm LLC raised its holdings in MercadoLibre by 0.5% in the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after acquiring an additional 6 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in MercadoLibre by 0.7% during the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock valued at $1,758,000 after acquiring an additional 7 shares during the last quarter. GPS Wealth Strategies Group LLC increased its position in shares of MercadoLibre by 17.9% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock worth $78,000 after purchasing an additional 7 shares during the last quarter. Finally, Savant Capital LLC raised its stake in shares of MercadoLibre by 2.3% in the 4th quarter. Savant Capital LLC now owns 308 shares of the company’s stock valued at $524,000 after purchasing an additional 7 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Stock Down 5.4 %

MELI opened at $1,841.29 on Friday. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The stock’s 50 day moving average price is $2,036.90 and its 200 day moving average price is $1,967.86. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The stock has a market cap of $93.35 billion, a P/E ratio of 48.84, a P/E/G ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. As a group, research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on MELI. Cantor Fitzgerald lifted their price target on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. upped their price target on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 25th. The Goldman Sachs Group lifted their price objective on shares of MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2,000.00 to $2,300.00 in a report on Thursday, January 30th. Finally, Bank of America lifted their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $2,402.81.

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.