Resona Asset Management Co. Ltd. Acquires 278 Shares of MercadoLibre, Inc. $MELI

Resona Asset Management Co. Ltd. raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.0% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 14,379 shares of the company’s stock after purchasing an additional 278 shares during the period. Resona Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $24,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bison Wealth LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at approximately $206,000. Empowered Funds LLC grew its holdings in MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after buying an additional 49 shares in the last quarter. Focus Partners Wealth grew its holdings in MercadoLibre by 42.0% during the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after buying an additional 178 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in MercadoLibre in the 2nd quarter valued at $261,000. Finally, Gamco Investors INC. ET AL raised its position in MercadoLibre by 21.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after buying an additional 30 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,807.83 on Friday. The company’s 50-day moving average is $1,674.19 and its 200 day moving average is $1,827.65. 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 market capitalization of $91.65 billion, a P/E ratio of 47.71, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50.

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

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MELI shares. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. JPMorgan Chase & Co. dropped their price target on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and dropped their price target for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

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.