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

Key Points

• Allianz Asset Management GmbH increased its stake in MercadoLibre by 45.7% in Q2, acquiring an additional 34,730 shares, bringing its total to 110,669 shares valued at approximately $289 million.
• MercadoLibre's recent earnings report showed a quarterly EPS of $10.31, which was below the consensus estimate of $12.01, despite a 33.8% year-over-year revenue growth.
• Currently, analysts have a consensus rating of "Moderate Buy" for MercadoLibre, with an average price target of $2,810.88.

Allianz Asset Management GmbH grew its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 45.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,669 shares of the company's stock after buying an additional 34,730 shares during the quarter. Allianz Asset Management GmbH owned 0.22% of MercadoLibre worth $289,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Optimize Financial Inc lifted its holdings in shares of MercadoLibre by 1.7% in the 1st quarter. Optimize Financial Inc now owns 238 shares of the company's stock valued at $464,000 after purchasing an additional 4 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in shares of MercadoLibre by 8.3% in the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock valued at $127,000 after purchasing an additional 5 shares during the last quarter. Range Financial Group LLC lifted its holdings in shares of MercadoLibre by 2.7% in the 2nd quarter. Range Financial Group LLC now owns 188 shares of the company's stock valued at $491,000 after purchasing an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of MercadoLibre by 26.3% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company's stock valued at $63,000 after purchasing an additional 5 shares during the last quarter. Finally, Forum Financial Management LP lifted its holdings in shares of MercadoLibre by 3.1% in the 1st quarter. Forum Financial Management LP now owns 199 shares of the company's stock valued at $388,000 after purchasing an additional 6 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

MercadoLibre Stock Performance

NASDAQ MELI opened at $2,048.35 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The business's 50 day moving average is $2,348.72 and its two-hundred day moving average is $2,345.35. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The stock has a market capitalization of $103.85 billion, a price-to-earnings ratio of 50.59, a PEG ratio of 1.46 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the previous year, the firm posted $10.48 EPS. The business's revenue for the quarter was up 33.8% on a year-over-year basis. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MELI shares. Benchmark reissued a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a report on Tuesday, August 5th. Cantor Fitzgerald upped their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Barclays reduced their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. Raymond James Financial reaffirmed a "strong-buy" rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Citigroup reduced their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a "buy" rating for the company in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,810.88.

About MercadoLibre

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.

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