Allianz Asset Management GmbH Boosts Position in MercadoLibre, Inc. $MELI

Key Points

• Allianz Asset Management increased its MercadoLibre stake by 72.5% in the second quarter, ending with 102,614 shares worth approximately $174.2 million. Institutional investors collectively own 87.62% of the company.
• MercadoLibre reported quarterly earnings of $9.19 per share, exceeding estimates of $8.65, while revenue rose 49.8% year over year to $10.17 billion.
• Analysts maintain a “Moderate Buy” consensus, with 11 Buy ratings and six Holds and an average price target of $2,272, compared with a recent share price of $1,978.36.

Allianz Asset Management GmbH increased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 72.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 102,614 shares of the company's stock after acquiring an additional 43,130 shares during the period. Allianz Asset Management GmbH owned approximately 0.20% of MercadoLibre worth $174,176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. California State Teachers Retirement System boosted its stake in MercadoLibre by 176,119.7% during the second quarter. California State Teachers Retirement System now owns 119,862,892 shares of the company's stock valued at $203,454,074,000 after buying an additional 119,794,873 shares during the period. Capital Research Global Investors lifted its stake in MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the last quarter. Capital International Investors increased its position in shares of MercadoLibre by 7.3% during the 4th quarter. Capital International Investors now owns 1,725,125 shares of the company's stock valued at $3,474,880,000 after purchasing an additional 118,018 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in MercadoLibre by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company's stock worth $3,188,718,000 after buying an additional 137,100 shares during the last quarter. Finally, BlackRock Inc. bought a new stake in shares of MercadoLibre in the 2nd quarter worth approximately $2,246,015,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

MercadoLibre stock opened at $1,978.36 on Tuesday. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a market capitalization of $100.30 billion, a price-to-earnings ratio of 53.80, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31. The business's fifty day simple moving average is $1,865.34 and its two-hundred day simple moving average is $1,769.47. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating the consensus estimate of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company's revenue was up 49.8% on a year-over-year basis. During the same period last year, the company earned $10.31 earnings per share. As a group, equities analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MELI. Zacks Research upgraded MercadoLibre from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Weiss Ratings restated a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Morgan Stanley decreased their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research note on Monday, May 11th. Barclays cut their price target on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Finally, Citigroup increased their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a report on Wednesday, July 15th. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $2,272.00.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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