Resona Asset Management Co. Ltd. Decreases Stock Holdings in MercadoLibre, Inc. $MELI

Resona Asset Management Co. Ltd. lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,101 shares of the company’s stock after selling 540 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $28,405,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MELI. Weitz Investment Management Inc. purchased a new stake in shares of MercadoLibre in the 3rd quarter valued at approximately $8,647,000. Barlow Wealth Partners Inc. grew its stake in shares of MercadoLibre by 126.7% in the 3rd quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock valued at $26,886,000 after buying an additional 6,429 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of MercadoLibre by 14.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock valued at $202,610,000 after buying an additional 10,849 shares during the period. Principal Financial Group Inc. grew its stake in shares of MercadoLibre by 18.7% in the 3rd quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock valued at $112,414,000 after buying an additional 7,570 shares during the period. Finally, Donaldson Capital Management LLC grew its stake in shares of MercadoLibre by 65.0% in the 3rd quarter. Donaldson Capital Management LLC now owns 2,678 shares of the company’s stock valued at $6,258,000 after buying an additional 1,055 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,594.86 on Wednesday. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company has a 50-day simple moving average of $1,727.23 and a 200-day simple moving average of $1,933.17. The stock has a market capitalization of $80.86 billion, a price-to-earnings ratio of 42.09, a PEG ratio of 0.98 and a beta of 1.41.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.74 EPS. On average, analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MELI shares. Wedbush lowered their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Morgan Stanley lowered their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and lowered their target price for the company from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. Finally, The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,255.33.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.