Nissay Asset Management Corp Japan ADV Has $23.03 Million Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Nissay Asset Management Corp Japan ADV increased its stake in MercadoLibre by 10.5%, now holding 11,803 shares worth approximately $23 million.
• MercadoLibre's recent earnings report showed an EPS of $10.31, missing analysts' expectations, but on the plus side, revenue increased by 33.8% year-over-year to $6.79 billion.
• A mix of analysts has recently adjusted their price targets on MercadoLibre, with the average target now sitting at $2,817.22 and many maintaining a Buy or Outperform rating on the stock.

Nissay Asset Management Corp Japan ADV raised its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,803 shares of the company's stock after buying an additional 1,121 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in MercadoLibre were worth $23,026,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MELI. Key Financial Inc purchased a new stake in MercadoLibre during the first quarter valued at about $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre during the first quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in MercadoLibre during the fourth quarter valued at about $26,000. Close Asset Management Ltd lifted its stake in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after buying an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after buying an additional 13 shares in the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MELI. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. Barclays dropped their target price on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Benchmark reiterated a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. The Goldman Sachs Group upped their target price on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $2,700.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Stock Down 0.0%

NASDAQ:MELI traded down $0.31 during mid-day trading on Friday, reaching $2,417.49. The stock had a trading volume of 493,478 shares, compared to its average volume of 309,981. The business's 50 day moving average is $2,402.07 and its 200 day moving average is $2,302.70. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The stock has a market cap of $122.57 billion, a P/E ratio of 59.71, a PEG ratio of 1.57 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the company posted $10.48 EPS. The company's quarterly revenue was up 33.8% on a year-over-year basis. As a group, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Company Profile

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.