Daiwa Securities Group Inc. Has $23.42 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Daiwa Securities Group Inc. lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 75.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,414 shares of the company’s stock after acquiring an additional 4,909 shares during the period. Daiwa Securities Group Inc.’s holdings in MercadoLibre were worth $23,421,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James & Associates raised its position in shares of MercadoLibre by 4.8% during the second quarter. Raymond James & Associates now owns 34,840 shares of the company’s stock worth $57,256,000 after purchasing an additional 1,604 shares during the period. KBC Group NV raised its holdings in MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company’s stock worth $53,923,000 after buying an additional 17,677 shares during the period. Caprock Group LLC lifted its stake in MercadoLibre by 143.7% in the second quarter. Caprock Group LLC now owns 580 shares of the company’s stock valued at $955,000 after buying an additional 342 shares in the last quarter. Sarasin & Partners LLP lifted its stake in MercadoLibre by 168.5% in the second quarter. Sarasin & Partners LLP now owns 45,407 shares of the company’s stock valued at $74,622,000 after buying an additional 28,494 shares in the last quarter. Finally, Parnassus Investments LLC increased its position in shares of MercadoLibre by 3.0% during the third quarter. Parnassus Investments LLC now owns 14,903 shares of the company’s stock worth $30,580,000 after acquiring an additional 436 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com cut shares of MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Wedbush restated an “outperform” rating and issued a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a report on Thursday, November 7th. Morgan Stanley decreased their price objective on MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Bank of America boosted their target price on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Susquehanna raised their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,269.67.

MercadoLibre Stock Performance

Shares of MELI opened at $2,005.00 on Monday. The company has a market cap of $101.65 billion, a PE ratio of 70.75, a price-to-earnings-growth ratio of 1.37 and a beta of 1.61. The firm has a 50-day moving average of $2,025.17 and a 200-day moving average of $1,857.20. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,161.73. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

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.