Nomura Asset Management Co. Ltd. Sells 777 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Nomura Asset Management Co. Ltd. decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,218 shares of the company’s stock after selling 777 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $25,877,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. 1620 Investment Advisors Inc. lifted its position in shares of MercadoLibre by 2.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 203 shares of the company’s stock worth $346,000 after purchasing an additional 5 shares during the last quarter. Nvwm LLC lifted its holdings in MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after buying an additional 6 shares in the last quarter. Perigon Wealth Management LLC boosted its position in MercadoLibre by 0.7% in the 4th quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock valued at $1,758,000 after buying an additional 7 shares during the period. GPS Wealth Strategies Group LLC grew its stake in MercadoLibre by 17.9% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 46 shares of the company’s stock worth $78,000 after acquiring an additional 7 shares in the last quarter. Finally, Savant Capital LLC increased its position in shares of MercadoLibre by 2.3% during the fourth quarter. Savant Capital LLC now owns 308 shares of the company’s stock worth $524,000 after acquiring an additional 7 shares during the period. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on MELI shares. JPMorgan Chase & Co. increased their price objective on MercadoLibre from $1,950.00 to $2,300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. The Goldman Sachs Group increased their price target on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price objective for the company in a report on Tuesday, January 21st. Susquehanna increased their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald boosted their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Buy” and an average price target of $2,402.81.

MercadoLibre Stock Performance

Shares of MELI opened at $2,048.07 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The firm has a market cap of $103.83 billion, a PE ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64. MercadoLibre, Inc. has a 12 month low of $1,324.99 and a 12 month high of $2,374.54. The stock has a fifty day moving average price of $2,028.39 and a 200-day moving average price of $1,974.17.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating analysts’ consensus estimates of $10.21 by $2.40. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The company had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre 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.