Assenagon Asset Management S.A. Boosts Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Assenagon Asset Management S.A. boosted its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 170.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 274,960 shares of the company's stock after buying an additional 173,449 shares during the quarter. MercadoLibre makes up approximately 0.9% of Assenagon Asset Management S.A.'s investment portfolio, making the stock its 16th largest position. Assenagon Asset Management S.A. owned 0.54% of MercadoLibre worth $536,411,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MELI. Human Investing LLC bought a new stake in shares of MercadoLibre in the 4th quarter valued at $26,000. Park Square Financial Group LLC bought a new stake in MercadoLibre during the 4th quarter valued at $26,000. Covestor Ltd acquired a new stake in shares of MercadoLibre in the 4th quarter worth about $27,000. Heck Capital Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth approximately $32,000. Finally, Stonebridge Financial Group LLC purchased a new position in MercadoLibre during the 4th quarter worth $37,000. Institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating for the company in a research report on Wednesday. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. upped their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research note on Thursday, May 22nd. Barclays boosted their price target on shares of MercadoLibre from $2,500.00 to $3,100.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, MercadoLibre currently has a consensus rating of "Moderate Buy" and an average price target of $2,632.50.

MercadoLibre Stock Down 0.4%

MercadoLibre stock traded down $9.01 on Thursday, hitting $2,377.99. 137,614 shares of the stock traded hands, compared to its average volume of 415,238. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,635.88. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. The business's fifty day simple moving average is $2,318.55 and its 200 day simple moving average is $2,070.71. The firm has a market cap of $120.56 billion, a P/E ratio of 63.08, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The company had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. MercadoLibre's revenue was up 37.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.78 EPS. As a group, sell-side analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

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.