Norinchukin Bank The Acquires 871 Shares of MercadoLibre, Inc. $MELI

Key Points

• Norinchukin Bank increased its stake in MercadoLibre, Inc. by 170.5% in the first quarter, owning 1,382 shares valued at approximately $2.7 million.
• MercadoLibre reported a net revenue increase of 33.8% year-over-year, but missed earnings per share estimates for the quarter, reporting $10.31 instead of the expected $12.01.
• Analysts have varying price targets for MercadoLibre, with a consensus target of $2,817.22, indicating a generally optimistic outlook on the stock with multiple "buy" ratings.

Norinchukin Bank The increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 170.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,382 shares of the company's stock after purchasing an additional 871 shares during the period. Norinchukin Bank The's holdings in MercadoLibre were worth $2,696,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Key Financial Inc acquired a new position in MercadoLibre in the 1st quarter valued at approximately $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre in the 1st quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new position in MercadoLibre in the 4th quarter valued at approximately $26,000. Close Asset Management Ltd raised its holdings in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after acquiring an additional 11 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after acquiring an additional 13 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Wedbush set a $2,700.00 price target on MercadoLibre and gave the company an "outperform" rating in a report on Tuesday, August 5th. Barclays cut their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Susquehanna reaffirmed a "positive" rating and issued a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Daiwa Capital Markets began coverage on MercadoLibre in a research note on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price objective on the stock. Finally, UBS Group set a $3,000.00 price objective on MercadoLibre in a research note on Monday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, MercadoLibre presently has an average rating of "Moderate Buy" and an average target price of $2,817.22.

MercadoLibre Price Performance

Shares of MELI stock traded down $2.21 during trading hours on Tuesday, hitting $2,405.53. The company had a trading volume of 409,689 shares, compared to its average volume of 390,684. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. The firm has a market capitalization of $121.96 billion, a price-to-earnings ratio of 59.41, a PEG ratio of 1.58 and a beta of 1.46. The firm's fifty day moving average is $2,410.39 and its 200 day moving average is $2,280.61. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

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