Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in MercadoLibre, Inc. (NASDAQ:MELI)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 6.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,637 shares of the company’s stock after acquiring an additional 2,334 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $67,198,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Human Investing LLC acquired a new position in MercadoLibre during the 4th quarter worth $26,000. Pacific Capital Wealth Advisors Inc. grew its position in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares in the last quarter. Brown Lisle Cummings Inc. increased its stake in shares of MercadoLibre by 100.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 8 shares during the period. Heck Capital Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter valued at approximately $32,000. Finally, Mather Group LLC. raised its holdings in MercadoLibre by 171.4% in the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock valued at $32,000 after acquiring an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

MELI has been the topic of a number of recent analyst reports. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. Raymond James raised MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price on the stock in a report on Tuesday, January 21st. Barclays lifted their price target on MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Finally, Wedbush cut their target price on MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating on the stock in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $2,402.81.

MercadoLibre Trading Down 2.3 %

Shares of MercadoLibre stock opened at $2,048.07 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The company has a market capitalization of $103.83 billion, a P/E ratio of 54.33, a PEG ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 1 year low of $1,324.99 and a 1 year high of $2,374.54. The company’s fifty day moving average is $2,028.39 and its two-hundred day moving average is $1,974.47.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. Analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current 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.