Resona Asset Management Co. Ltd. Purchases 1,050 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Key Points

• Resona Asset Management Co. Ltd. increased its ownership of MercadoLibre, Inc. by 7.7% in the first quarter, acquiring an additional 1,050 shares, bringing its total holdings to 14,723 shares valued at approximately $28.9 million.
• MercadoLibre recently reported earnings per share of $10.31 for the quarter, which was below analyst expectations, despite revenue rising by 33.8% year-over-year to $6.79 billion.
• According to various analysts, MercadoLibre has received mostly positive ratings, with a consensus rating of "Moderate Buy" and a price target averaging $2,795.00, reflecting strong confidence in the company's growth potential.

Resona Asset Management Co. Ltd. raised its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 7.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 14,723 shares of the company's stock after acquiring an additional 1,050 shares during the period. Resona Asset Management Co. Ltd.'s holdings in MercadoLibre were worth $28,919,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Key Financial Inc bought a new stake in MercadoLibre in the 1st quarter valued at approximately $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre in the 1st quarter valued at approximately $25,000. Close Asset Management Ltd lifted its stake 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. Park Square Financial Group LLC bought a new stake in MercadoLibre in the 4th quarter valued at approximately $26,000. Finally, Covestor Ltd acquired a new position in shares of MercadoLibre during the 4th quarter worth approximately $27,000. Institutional investors own 87.62% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on MELI shares. Raymond James Financial reaffirmed a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $2,700.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research report on Thursday, May 1st. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MercadoLibre presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,795.00.

MercadoLibre Stock Performance

MELI opened at $2,350.83 on Wednesday. The firm has a market cap of $119.19 billion, a P/E ratio of 58.06, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The business's fifty day moving average is $2,426.54 and its 200-day moving average is $2,251.59.

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

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