Nan Fung Group Holdings Ltd Purchases Shares of 904 MercadoLibre, Inc. (NASDAQ:MELI)

Nan Fung Group Holdings Ltd acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the first quarter, HoldingsChannel reports. The firm acquired 904 shares of the company’s stock, valued at approximately $1,192,000. MercadoLibre makes up about 0.8% of Nan Fung Group Holdings Ltd’s portfolio, making the stock its 22nd largest holding.

A number of other institutional investors have also modified their holdings of MELI. FMR LLC raised its position in shares of MercadoLibre by 60.2% in the first quarter. FMR LLC now owns 675,219 shares of the company’s stock valued at $889,979,000 after buying an additional 253,864 shares during the last quarter. Alphinity Investment Management Pty Ltd raised its position in shares of MercadoLibre by 763.6% in the first quarter. Alphinity Investment Management Pty Ltd now owns 167,320 shares of the company’s stock valued at $220,538,000 after buying an additional 147,945 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of MercadoLibre by 30.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 474,855 shares of the company’s stock valued at $401,841,000 after buying an additional 111,751 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of MercadoLibre by 169.4% in the first quarter. Assenagon Asset Management S.A. now owns 171,271 shares of the company’s stock valued at $225,745,000 after buying an additional 107,685 shares during the last quarter. Finally, Hardman Johnston Global Advisors LLC raised its position in shares of MercadoLibre by 1,037.8% in the first quarter. Hardman Johnston Global Advisors LLC now owns 115,752 shares of the company’s stock valued at $152,568,000 after buying an additional 105,579 shares during the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on MELI. Barclays upped their price target on shares of MercadoLibre from $1,575.00 to $1,625.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. UBS Group upped their price target on shares of MercadoLibre from $1,600.00 to $1,700.00 and gave the stock a “buy” rating in a research report on Wednesday, August 30th. Wolfe Research dropped their price target on shares of MercadoLibre from $1,700.00 to $1,400.00 in a research report on Monday, July 10th. New Street Research raised shares of MercadoLibre from a “neutral” rating to a “buy” rating and upped their price target for the stock from $1,400.00 to $1,650.00 in a research report on Friday. Finally, The Goldman Sachs Group upped their price target on shares of MercadoLibre from $1,910.00 to $2,180.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,645.00.

MercadoLibre Stock Up 3.6 %

Shares of MELI stock traded up $49.28 on Monday, hitting $1,421.64. The stock had a trading volume of 549,100 shares, compared to its average volume of 510,946. The firm has a market capitalization of $71.21 billion, a price-to-earnings ratio of 95.16, a P/E/G ratio of 1.48 and a beta of 1.51. The stock’s 50 day moving average is $1,229.81 and its 200-day moving average is $1,235.86. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.25 and a current ratio of 1.28. MercadoLibre, Inc. has a 52-week low of $754.76 and a 52-week high of $1,421.93.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, August 2nd. The company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.13 by $1.03. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.27 billion. MercadoLibre had a net margin of 6.23% and a return on equity of 39.07%. The business’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.43 earnings per share. As a group, research analysts expect that MercadoLibre, Inc. will post 20.56 earnings per share for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in Latin America. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases online; 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.