Mirae Asset Global Investments Co. Ltd. Has $22.61 Million Holdings in Mercadolibre Inc (MELI)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Mercadolibre Inc (NASDAQ:MELI) by 1,049.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,407 shares of the company’s stock after purchasing an additional 60,631 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Mercadolibre were worth $22,609,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Artisan Partners Limited Partnership increased its stake in Mercadolibre by 247.8% in the 2nd quarter. Artisan Partners Limited Partnership now owns 292,491 shares of the company’s stock worth $87,434,000 after purchasing an additional 208,402 shares during the period. Compass Group LLC increased its stake in Mercadolibre by 15.7% in the 2nd quarter. Compass Group LLC now owns 9,120 shares of the company’s stock worth $2,726,000 after purchasing an additional 1,240 shares during the period. Vident Investment Advisory LLC purchased a new position in Mercadolibre in the 2nd quarter worth approximately $1,240,000. Apertura Capital LLC increased its stake in Mercadolibre by 27.1% in the 2nd quarter. Apertura Capital LLC now owns 70,000 shares of the company’s stock worth $20,925,000 after purchasing an additional 14,940 shares during the period. Finally, Paloma Partners Management Co purchased a new position in Mercadolibre in the 2nd quarter worth approximately $239,000. 91.40% of the stock is currently owned by institutional investors and hedge funds.

MELI opened at $351.97 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.61 and a current ratio of 1.62. Mercadolibre Inc has a 52-week low of $266.21 and a 52-week high of $417.91. The company has a market cap of $16.18 billion, a PE ratio of 139.12 and a beta of 1.96.

Mercadolibre (NASDAQ:MELI) last posted its earnings results on Thursday, November 1st. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.13). Mercadolibre had a negative net margin of 7.04% and a negative return on equity of 9.47%. The business had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $352.75 million. During the same period last year, the firm posted $0.63 earnings per share. Mercadolibre’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, equities analysts anticipate that Mercadolibre Inc will post -0.99 EPS for the current year.

A number of equities analysts have commented on MELI shares. Stifel Nicolaus lifted their price target on Mercadolibre from $360.00 to $380.00 and gave the stock a “hold” rating in a research note on Thursday, August 9th. Barclays lifted their price target on Mercadolibre from $365.00 to $375.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. Credit Suisse Group decreased their price target on Mercadolibre from $425.00 to $420.00 and set an “outperform” rating on the stock in a research note on Thursday, August 9th. ValuEngine raised Mercadolibre from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 9th. Finally, Zacks Investment Research cut Mercadolibre from a “hold” rating to a “sell” rating in a research note on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Mercadolibre presently has an average rating of “Buy” and a consensus target price of $362.62.

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About Mercadolibre

MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.

Further Reading: How Does the Quiet Period Work?

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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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