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

AIA Group Ltd raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 17.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,412 shares of the company’s stock after acquiring an additional 1,412 shares during the quarter. AIA Group Ltd’s holdings in MercadoLibre were worth $19,313,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MELI. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in MercadoLibre by 1,600.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock valued at $28,000 after acquiring an additional 16 shares during the period. Optimum Investment Advisors lifted its holdings in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock valued at $35,000 after acquiring an additional 15 shares during the period. Financial Connections Group Inc. bought a new position in MercadoLibre in the second quarter valued at about $36,000. Quarry LP bought a new position in MercadoLibre in the second quarter valued at about $43,000. Finally, NBC Securities Inc. lifted its holdings in MercadoLibre by 35.0% in the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares during the period. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 16.2 %

Shares of MELI opened at $1,774.05 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The stock 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, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,161.73. The business’s 50 day simple moving average is $2,055.08 and its 200-day simple moving average is $1,819.36.

MercadoLibre (NASDAQ:MELI) last released 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). MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.25 billion. As a group, equities analysts expect that MercadoLibre, Inc. will post 37.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MELI has been the subject of a number of analyst reports. Bank of America upped their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Susquehanna upped their price target 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. Morgan Stanley upped their price target on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Raymond James initiated coverage on MercadoLibre in a research report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,309.67.

MercadoLibre 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.