Global X Japan Co. Ltd. Purchases 1,200 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Global X Japan Co. Ltd. grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 37.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,446 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. MercadoLibre comprises approximately 1.0% of Global X Japan Co. Ltd.’s portfolio, making the stock its 25th biggest holding. Global X Japan Co. Ltd.’s holdings in MercadoLibre were worth $7,307,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of MELI. Capital International Investors raised its holdings in MercadoLibre by 0.4% during the 4th quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock valued at $1,630,740,000 after acquiring an additional 4,317 shares during the period. Capital World Investors raised its stake in shares of MercadoLibre by 12.7% during the 1st quarter. Capital World Investors now owns 845,749 shares of the company’s stock valued at $1,278,738,000 after purchasing an additional 95,029 shares during the period. GQG Partners LLC raised its stake in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in MercadoLibre by 43.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after purchasing an additional 232,787 shares in the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of MercadoLibre by 55.8% during the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after buying an additional 132,028 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 2.2 %

Shares of MELI opened at $2,029.91 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 1.28. MercadoLibre, Inc. has a fifty-two week low of $1,141.04 and a fifty-two week high of $2,064.76. The firm has a 50 day moving average price of $1,823.09 and a 200-day moving average price of $1,660.50. The firm has a market cap of $102.92 billion, a price-to-earnings ratio of 90.82, a PEG ratio of 1.29 and a beta of 1.60.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the firm posted $5.16 earnings per share. The firm’s revenue for the quarter was up 41.5% on a year-over-year basis. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on MELI. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and lifted their price objective for the company from $1,400.00 to $2,100.00 in a research note on Monday, May 20th. New Street Research lowered MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 11th. Finally, The Goldman Sachs Group upped their price objective on shares of MercadoLibre from $2,180.00 to $2,480.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $2,141.25.

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.