Asahi Life Asset Management CO. LTD. Buys Shares of 228 MercadoLibre, Inc. $MELI

Asahi Life Asset Management CO. LTD. bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 228 shares of the company’s stock, valued at approximately $596,000.

Several other large investors have also modified their holdings of MELI. Bison Wealth LLC purchased a new position in shares of MercadoLibre during the fourth quarter valued at approximately $206,000. Concurrent Investment Advisors LLC boosted its position in shares of MercadoLibre by 31.1% during the first quarter. Concurrent Investment Advisors LLC now owns 451 shares of the company’s stock valued at $880,000 after buying an additional 107 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of MercadoLibre by 5.8% during the first quarter. Envestnet Asset Management Inc. now owns 63,431 shares of the company’s stock valued at $123,745,000 after buying an additional 3,492 shares during the period. Financial Counselors Inc. purchased a new position in shares of MercadoLibre during the first quarter valued at approximately $300,000. Finally, U.S. Capital Wealth Advisors LLC boosted its position in shares of MercadoLibre by 78.7% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,474 shares of the company’s stock valued at $2,876,000 after buying an additional 649 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Citigroup decreased their price target on shares of MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Barclays lifted their price target on shares of MercadoLibre from $2,800.00 to $2,900.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Cantor Fitzgerald decreased their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2,822.35.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,301.88 on Thursday. The company has a market capitalization of $116.70 billion, a price-to-earnings ratio of 56.17, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a 52 week low of $1,646.00 and a 52 week high of $2,645.22. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $2,304.52 and a 200 day moving average of $2,377.13.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business’s quarterly revenue was up 39.5% on a year-over-year basis. During the same period last year, the firm earned $7.83 EPS. On average, sell-side analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share 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.