Global X Japan Co. Ltd. Raises Position in MercadoLibre, Inc. (NASDAQ:MELI)

Global X Japan Co. Ltd. raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 22.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,566 shares of the company’s stock after buying an additional 1,214 shares during the quarter. MercadoLibre accounts for about 1.4% of Global X Japan Co. Ltd.’s investment portfolio, making the stock its 21st largest holding. Global X Japan Co. Ltd.’s holdings in MercadoLibre were worth $11,165,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the stock. Planning Capital Management Corp raised its stake in MercadoLibre by 9.1% in the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock valued at $123,000 after buying an additional 5 shares during the last quarter. Mount Lucas Management LP boosted its holdings in shares of MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock valued at $293,000 after acquiring an additional 5 shares during the last quarter. Strategic Blueprint LLC increased its stake in shares of MercadoLibre by 0.9% in the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock worth $1,350,000 after acquiring an additional 6 shares during the period. Nvwm LLC raised its holdings in shares of MercadoLibre by 0.5% during the fourth quarter. Nvwm LLC now owns 1,137 shares of the company’s stock worth $1,933,000 after purchasing an additional 6 shares during the last quarter. Finally, NBC Securities Inc. lifted its position in MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after purchasing an additional 7 shares during the period. Institutional investors own 87.62% of the company’s stock.

Insider Activity

In other MercadoLibre news, Director Emiliano Calemzuk sold 50 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares in the company, valued at $472,425.24. This represents a 17.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MELI. Cantor Fitzgerald reduced their price target on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,150.00 to $1,950.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley dropped their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, November 11th. Citigroup lowered their price objective on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Finally, BTIG Research cut their target price on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Two 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $2,244.69.

MercadoLibre Trading Up 1.9 %

Shares of MELI stock opened at $2,012.80 on Friday. MercadoLibre, Inc. has a fifty-two week low of $1,324.99 and a fifty-two week high of $2,161.73. The company has a 50 day moving average price of $1,831.55 and a 200 day moving average price of $1,924.10. The stock has a market capitalization of $102.05 billion, a P/E ratio of 71.02, a price-to-earnings-growth ratio of 1.02 and a beta of 1.62. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25.

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.