Mirae Asset Global Investments Co. Ltd. Has $33.36 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Mirae Asset Global Investments Co. Ltd. raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,092 shares of the company’s stock after buying an additional 1,600 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in MercadoLibre were worth $33,359,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. GQG Partners LLC lifted its position in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after acquiring an additional 648,198 shares during the period. International Assets Investment Management LLC increased its stake in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings 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 purchasing an additional 232,787 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of MercadoLibre during the 2nd quarter worth about $2,913,000. Finally, Janus Henderson Group PLC grew its stake in shares of MercadoLibre by 55.8% in the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Down 0.4 %

MELI opened at $2,047.35 on Friday. MercadoLibre, Inc. has a 12 month low of $1,162.73 and a 12 month high of $2,161.73. The company has a market cap of $103.80 billion, a PE ratio of 73.99, a price-to-earnings-growth ratio of 1.26 and a beta of 1.61. 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 company has a 50 day moving average of $2,045.69 and a 200 day moving average of $1,777.82.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, beating 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 company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the business earned $5.16 earnings per share. The firm’s quarterly revenue was up 41.5% compared to the same quarter last year. On average, sell-side analysts expect that MercadoLibre, Inc. will post 37.55 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on MELI shares. Barclays upped their price target on MercadoLibre from $2,100.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. The Goldman Sachs Group boosted their price target on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $2,530.00 price objective on shares of MercadoLibre in a research note on Monday, October 7th. Finally, Morgan Stanley boosted their price objective on MercadoLibre from $2,175.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Three 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $2,301.67.

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.