Global X Japan Co. Ltd. Raises Position in MercadoLibre, Inc. $MELI

Global X Japan Co. Ltd. grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 36.1% during the fourth quarter, Holdings Channel reports. The firm owned 7,507 shares of the company’s stock after purchasing an additional 1,992 shares during the period. MercadoLibre makes up approximately 1.2% of Global X Japan Co. Ltd.’s portfolio, making the stock its 25th largest position. Global X Japan Co. Ltd.’s holdings in MercadoLibre were worth $15,121,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Darwin Wealth Management LLC purchased a new stake in MercadoLibre in the 2nd quarter valued at $29,000. Holos Integrated Wealth LLC purchased a new position in MercadoLibre during the 4th quarter worth $32,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of MercadoLibre in the 3rd quarter worth $35,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of MercadoLibre in the 3rd quarter worth $35,000. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of MercadoLibre by 100.0% in the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after purchasing an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,630.99 on Friday. The company has a market capitalization of $82.69 billion, a P/E ratio of 41.40, a price-to-earnings-growth ratio of 0.83 and a beta of 1.48. The company’s 50-day moving average is $1,910.64 and its 200 day moving average is $2,072.11. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. MercadoLibre, Inc. has a fifty-two week low of $1,606.21 and a fifty-two week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). The company had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.45 billion. MercadoLibre had a return on equity of 33.73% and a net margin of 6.91%.The business’s quarterly revenue was up 44.6% on a year-over-year basis. During the same quarter last year, the business posted $12.61 EPS. On average, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MELI has been the topic of several analyst reports. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a report on Wednesday, February 25th. UBS Group decreased their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Cantor Fitzgerald dropped their target price on shares of MercadoLibre from $2,750.00 to $2,400.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Wedbush cut their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average price target of $2,708.67.

About MercadoLibre

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.