Daiwa Securities Group Inc. Sells 1,661 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Daiwa Securities Group Inc. decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 14.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,753 shares of the company’s stock after selling 1,661 shares during the quarter. Daiwa Securities Group Inc.’s holdings in MercadoLibre were worth $16,584,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Swedbank AB boosted its holdings in MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after acquiring an additional 73,336 shares during the last quarter. QRG Capital Management Inc. acquired a new position in MercadoLibre during the 3rd quarter valued at about $293,000. Assetmark Inc. boosted its stake in shares of MercadoLibre by 11.1% in the 3rd quarter. Assetmark Inc. now owns 4,042 shares of the company’s stock valued at $8,294,000 after purchasing an additional 404 shares during the last quarter. Atria Investments Inc grew its position in shares of MercadoLibre by 5.3% during the 3rd quarter. Atria Investments Inc now owns 3,105 shares of the company’s stock worth $6,371,000 after buying an additional 157 shares during the period. Finally, Mesirow Financial Investment Management Inc. raised its stake in shares of MercadoLibre by 15.9% during the third quarter. Mesirow Financial Investment Management Inc. now owns 160 shares of the company’s stock worth $328,000 after buying an additional 22 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of a number of recent research reports. Raymond James raised shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective on the stock in a research note on Tuesday, January 21st. Bank of America raised their price target on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a report on Monday, March 3rd. Barclays raised their target price on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Morgan Stanley lowered their price target on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre currently has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Stock Down 3.2 %

Shares of MELI stock opened at $1,944.61 on Tuesday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average of $1,946.86 and a 200-day moving average of $1,969.34. The company has a market capitalization of $98.59 billion, a price-to-earnings ratio of 51.58, a P/E/G ratio of 1.12 and a beta of 1.64.

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