Global X Japan Co. Ltd. grew its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 11.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,331 shares of the company's stock after acquiring an additional 765 shares during the quarter. MercadoLibre makes up approximately 1.6% of Global X Japan Co. Ltd.'s holdings, making the stock its 18th largest position. Global X Japan Co. Ltd.'s holdings in MercadoLibre were worth $14,302,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Matthews International Capital Management LLC increased its stake in MercadoLibre by 300.8% during the first quarter. Matthews International Capital Management LLC now owns 1,479 shares of the company's stock valued at $2,885,000 after purchasing an additional 1,110 shares during the last quarter. Premier Path Wealth Partners LLC boosted its stake in MercadoLibre by 9.2% in the first quarter. Premier Path Wealth Partners LLC now owns 261 shares of the company's stock valued at $510,000 after acquiring an additional 22 shares during the period. Institute for Wealth Management LLC. raised its position in shares of MercadoLibre by 3.3% during the 1st quarter. Institute for Wealth Management LLC. now owns 311 shares of the company's stock worth $607,000 after purchasing an additional 10 shares during the period. Beacon Capital Management LLC boosted its position in MercadoLibre by 8.3% during the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after purchasing an additional 5 shares during the period. Finally, Grandview Asset Management LLC bought a new position in MercadoLibre during the 1st quarter worth $217,000. 87.62% of the stock is owned by institutional investors and hedge funds.
MercadoLibre Price Performance
Shares of MELI traded up $0.36 during trading hours on Friday, hitting $2,403.11. 145,810 shares of the company were exchanged, compared to its average volume of 385,244. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.18. The company has a market capitalization of $121.84 billion, a PE ratio of 59.13, a PEG ratio of 1.34 and a beta of 1.51. The firm has a fifty day simple moving average of $2,379.52 and a 200-day simple moving average of $2,085.56. MercadoLibre, Inc. has a one year low of $1,563.21 and a one year high of $2,635.88.
MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The firm had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. MercadoLibre's revenue was up 37.0% on a year-over-year basis. During the same quarter last year, the business posted $6.78 EPS. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the company. UBS Group set a $3,000.00 target price on MercadoLibre in a research note on Monday, June 2nd. Citigroup reiterated a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Bank of America upped their target price on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Cantor Fitzgerald cut their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. lifted their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus price target of $2,632.50.
View Our Latest Analysis on MELI
About MercadoLibre
(
Free Report)
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.
Further Reading
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