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

Global X Japan Co. Ltd. raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 37.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 4,446 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. MercadoLibre accounts for about 1.0% of Global X Japan Co. Ltd.’s holdings, making the stock its 25th biggest holding. Global X Japan Co. Ltd.’s holdings in MercadoLibre were worth $7,307,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MELI. Capital International Investors boosted its holdings in shares of MercadoLibre by 0.4% during the fourth quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after purchasing an additional 4,317 shares during the period. Capital World Investors raised its position in MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after purchasing an additional 95,029 shares during the last quarter. GQG Partners LLC lifted its holdings in MercadoLibre by 442.2% in the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after buying an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of MercadoLibre by 43.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after buying an additional 232,787 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 2.2 %

MercadoLibre stock opened at $2,029.91 on Tuesday. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,064.76. The company has a market capitalization of $102.92 billion, a price-to-earnings ratio of 90.82, a price-to-earnings-growth ratio of 1.29 and a beta of 1.60. The business’s fifty day simple moving average is $1,823.09 and its two-hundred day simple moving average is $1,660.50. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the firm earned $5.16 EPS. MercadoLibre’s quarterly revenue was up 41.5% compared to the same quarter last year. As a group, equities analysts predict that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on MELI. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Barclays increased their price target on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their price objective for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Susquehanna increased their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Finally, BTIG Research raised their target price on MercadoLibre from $2,025.00 to $2,250.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,141.25.

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.