Meiji Yasuda Asset Management Co Ltd. Acquires 148 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Meiji Yasuda Asset Management Co Ltd. increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,602 shares of the company’s stock after purchasing an additional 148 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in MercadoLibre were worth $4,425,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of MercadoLibre during the 3rd quarter valued at approximately $114,417,000. Principal Financial Group Inc. raised its stake in MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company’s stock valued at $121,948,000 after purchasing an additional 10,272 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company’s stock worth $271,897,000 after buying an additional 43,215 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of MercadoLibre by 11.7% during the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock worth $2,328,000 after acquiring an additional 143 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in MercadoLibre by 40.0% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company’s stock worth $5,598,000 after acquiring an additional 780 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

MELI opened at $2,191.30 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The stock has a market capitalization of $111.09 billion, a PE ratio of 58.12, a price-to-earnings-growth ratio of 1.12 and a beta of 1.64. The stock’s 50 day moving average price is $2,014.23 and its 200-day moving average price is $1,972.78. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on MELI shares. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target for the company in a research note on Tuesday, January 21st. Susquehanna upped their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a research note on Friday, February 21st. Citigroup lowered their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating for the company in a report on Tuesday, November 26th. Bank of America increased their target price 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. Finally, Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, MercadoLibre has a consensus rating of “Buy” and a consensus price target 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.