Nissay Asset Management Corp Japan Has $24.36 Million Holdings in MercadoLibre, Inc. $MELI

Nissay Asset Management Corp Japan lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 6.5% during the second quarter, Holdings Channel.com reports. The firm owned 14,352 shares of the company’s stock after purchasing an additional 875 shares during the period. Nissay Asset Management Corp Japan’s holdings in MercadoLibre were worth $24,361,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MELI. Bison Wealth LLC acquired a new position in MercadoLibre during the fourth quarter worth $206,000. Empowered Funds LLC raised its holdings in shares of MercadoLibre by 6.9% in the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock worth $1,483,000 after acquiring an additional 49 shares during the last quarter. Focus Partners Wealth lifted its position in MercadoLibre by 42.0% in the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after acquiring an additional 178 shares in the last quarter. Sivia Capital Partners LLC bought a new position in MercadoLibre in the 2nd quarter valued at about $261,000. Finally, Gamco Investors INC. ET AL boosted its stake in MercadoLibre by 21.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after purchasing an additional 30 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on MercadoLibre from $1,900.00 to $2,150.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a research report on Friday, May 8th. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a research note on Wednesday, May 13th. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a report on Thursday, August 6th. Finally, Morgan Stanley reduced their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, MercadoLibre currently has a consensus rating of “Moderate Buy” and an average target price of $2,272.00.

MercadoLibre Stock Up 1.8%

Shares of NASDAQ:MELI opened at $1,966.25 on Friday. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50. The company has a market capitalization of $99.69 billion, a PE ratio of 53.47, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34. The business has a fifty day moving average price of $1,824.45 and a two-hundred day moving average price of $1,772.36. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm’s quarterly revenue was up 49.8% on a year-over-year basis. During the same period in the previous year, the firm earned $10.31 EPS. Analysts forecast that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.

MercadoLibre Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.