AIA Group Ltd Acquires 1,412 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

AIA Group Ltd increased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 17.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,412 shares of the company’s stock after buying an additional 1,412 shares during the quarter. AIA Group Ltd’s holdings in MercadoLibre were worth $19,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Capital World Investors lifted its position in MercadoLibre by 12.7% in the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after buying an additional 95,029 shares during the last quarter. GQG Partners LLC lifted its position 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 last quarter. Price T Rowe Associates Inc. MD lifted its position in MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after buying an additional 232,787 shares during the last quarter. Janus Henderson Group PLC lifted its position in MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after buying an additional 132,028 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in MercadoLibre by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 323,570 shares of the company’s stock worth $531,755,000 after buying an additional 11,265 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MELI. Redburn Atlantic began coverage on MercadoLibre in a research note on Friday, October 11th. They issued a “buy” rating and a $2,800.00 price target on the stock. BTIG Research decreased their price target on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America lifted their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Finally, Dbs Bank raised MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,309.67.

MercadoLibre Trading Down 16.2 %

MercadoLibre stock opened at $1,774.05 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The business’s fifty day simple moving average is $2,055.08 and its two-hundred day simple moving average is $1,819.36. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,161.73. The company has a market capitalization of $89.94 billion, a price-to-earnings ratio of 64.11, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.27 by ($3.44). The business had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $5.25 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. As a group, equities analysts predict that MercadoLibre, Inc. will post 37.7 earnings per share for the current fiscal year.

About MercadoLibre

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.