Tokio Marine Asset Management Co. Ltd. Boosts Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Tokio Marine Asset Management Co. Ltd. raised its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,311 shares of the company’s stock after buying an additional 31 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in MercadoLibre were worth $2,690,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of MercadoLibre by 1,600.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares during the last quarter. Optimum Investment Advisors raised its holdings in MercadoLibre by 750.0% in the third quarter. Optimum Investment Advisors now owns 17 shares of the company’s stock worth $35,000 after buying an additional 15 shares during the last quarter. Financial Connections Group Inc. bought a new position in shares of MercadoLibre in the second quarter worth approximately $36,000. Quarry LP purchased a new stake in shares of MercadoLibre during the second quarter valued at approximately $43,000. Finally, NBC Securities Inc. increased its position in shares of MercadoLibre by 35.0% during the third quarter. NBC Securities Inc. now owns 27 shares of the company’s stock valued at $55,000 after acquiring an additional 7 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MELI has been the topic of several analyst reports. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Susquehanna upped their price target on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday, August 28th. Raymond James began coverage on MercadoLibre in a report on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price objective for the company. Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, BTIG Research reduced their price target on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,269.67.

MercadoLibre Stock Down 2.8 %

MELI stock opened at $1,876.20 on Friday. The business’s 50-day moving average price is $2,042.97 and its 200-day moving average price is $1,837.63. The stock has a market cap of $95.12 billion, a P/E ratio of 66.20, a PEG ratio of 1.31 and a beta of 1.61. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

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.