Sumitomo Mitsui DS Asset Management Company Ltd Grows Position in Mercadolibre Inc (NASDAQ:MELI)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Mercadolibre Inc (NASDAQ:MELI) by 20.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,410 shares of the company’s stock after buying an additional 413 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Mercadolibre were worth $1,328,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MELI. Janus Henderson Group PLC increased its position in Mercadolibre by 6.1% in the second quarter. Janus Henderson Group PLC now owns 123,705 shares of the company’s stock worth $75,679,000 after purchasing an additional 7,149 shares during the last quarter. Mackenzie Financial Corp increased its position in Mercadolibre by 123.0% in the second quarter. Mackenzie Financial Corp now owns 16,736 shares of the company’s stock worth $10,239,000 after purchasing an additional 9,230 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Mercadolibre by 32.8% in the second quarter. Janney Montgomery Scott LLC now owns 2,693 shares of the company’s stock worth $1,648,000 after purchasing an additional 665 shares during the last quarter. Asahi Life Asset Management CO. LTD. bought a new stake in Mercadolibre in the second quarter worth $327,000. Finally, Cedar Capital LLC increased its position in Mercadolibre by 17.3% in the second quarter. Cedar Capital LLC now owns 1,779 shares of the company’s stock worth $1,088,000 after purchasing an additional 263 shares during the last quarter. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

MELI stock traded down $12.98 during mid-day trading on Friday, reaching $536.27. 282,337 shares of the stock traded hands, compared to its average volume of 362,188. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.53 and a current ratio of 2.54. Mercadolibre Inc has a one year low of $257.52 and a one year high of $698.98. The stock has a market capitalization of $27.30 billion, a PE ratio of -653.99 and a beta of 1.67. The business has a 50-day moving average price of $559.86 and a two-hundred day moving average price of $579.56.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. The business had revenue of $545.24 million for the quarter, compared to analysts’ expectations of $507.68 million. Mercadolibre had a net margin of 0.87% and a return on equity of 1.24%. The business’s revenue was up 62.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.25) earnings per share. On average, equities analysts expect that Mercadolibre Inc will post 0.57 earnings per share for the current fiscal year.

Several brokerages recently weighed in on MELI. Piper Jaffray Companies boosted their price target on shares of Mercadolibre from $584.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Credit Suisse Group boosted their price target on shares of Mercadolibre from $640.00 to $710.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. They noted that the move was a valuation call. Goldman Sachs Group set a $713.00 price target on shares of Mercadolibre and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Citigroup upgraded shares of Mercadolibre from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $609.00 to $729.00 in a research report on Thursday, August 8th. Finally, UBS Group set a $730.00 price objective on shares of Mercadolibre and gave the company a “buy” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $663.81.

Mercadolibre Company Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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