Mitsubishi UFJ Trust & Banking Corp Has $237.48 Million Holdings in MercadoLibre, Inc. $MELI

Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 99.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,861 shares of the company’s stock after acquiring an additional 45,245 shares during the quarter. MercadoLibre accounts for approximately 0.6% of Mitsubishi UFJ Trust & Banking Corp’s investment portfolio, making the stock its 25th largest position. Mitsubishi UFJ Trust & Banking Corp owned 0.18% of MercadoLibre worth $237,477,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. GW&K Investment Management LLC acquired a new position in MercadoLibre during the 1st quarter worth approximately $25,000. Close Asset Management Ltd grew its stake in shares of MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock worth $27,000 after buying an additional 11 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after buying an additional 13 shares in the last quarter. Twin Tree Management LP bought a new position in shares of MercadoLibre in the 1st quarter valued at $29,000. Finally, Saudi Central Bank acquired a new stake in shares of MercadoLibre during the 1st quarter valued at $35,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Daiwa Capital Markets started coverage on MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 target price for the company. Morgan Stanley boosted their price target on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a report on Monday, November 3rd. Susquehanna dropped their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a report on Monday, October 13th. Wedbush lifted their target price on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, Barclays upped 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 report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,861.25.

MercadoLibre Stock Up 0.4%

Shares of MercadoLibre stock opened at $2,099.57 on Wednesday. The stock’s 50-day moving average is $2,277.14 and its 200 day moving average is $2,377.49. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The firm has a market cap of $106.44 billion, a price-to-earnings ratio of 51.23, a PEG ratio of 1.56 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The business had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. During the same quarter in the previous year, the firm posted $7.83 earnings per share. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. Equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current 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.