Allianz Asset Management GmbH Buys 5,791 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Allianz Asset Management GmbH boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,939 shares of the company's stock after buying an additional 5,791 shares during the period. Allianz Asset Management GmbH owned approximately 0.15% of MercadoLibre worth $148,147,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Los Angeles Capital Management LLC grew its position in MercadoLibre by 102.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 4,943 shares of the company's stock valued at $9,643,000 after purchasing an additional 2,499 shares during the last quarter. Carmel Capital Partners LLC bought a new position in shares of MercadoLibre in the first quarter worth approximately $1,627,000. Wealth Alliance LLC grew its holdings in shares of MercadoLibre by 47.7% during the first quarter. Wealth Alliance LLC now owns 294 shares of the company's stock valued at $574,000 after buying an additional 95 shares during the last quarter. Souders Financial Advisors bought a new stake in shares of MercadoLibre during the first quarter valued at approximately $238,000. Finally, J.W. Cole Advisors Inc. raised its holdings in MercadoLibre by 8.1% in the 1st quarter. J.W. Cole Advisors Inc. now owns 1,494 shares of the company's stock worth $2,915,000 after acquiring an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MELI traded down $4.26 during trading hours on Thursday, reaching $2,390.18. 78,433 shares of the stock traded hands, compared to its average volume of 394,082. The company has a market cap of $121.17 billion, a P/E ratio of 58.78, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. The company's 50-day moving average price is $2,484.25 and its two-hundred day moving average price is $2,193.98. MercadoLibre, Inc. has a 52-week low of $1,579.78 and a 52-week high of $2,645.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, beating the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The business's revenue was up 37.0% on a year-over-year basis. During the same period in the previous year, the business earned $6.78 earnings per share. On average, analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the topic of several recent analyst reports. Benchmark downgraded MercadoLibre from a "buy" rating to a "cautious" rating in a research note on Thursday, May 1st. Morgan Stanley reiterated an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research report on Monday, June 2nd. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a report on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $2,639.69.

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.