Assenagon Asset Management S.A. Sells 1,902 Shares of MercadoLibre, Inc. $MELI

Key Points

• Assenagon Asset Management trimmed its MercadoLibre stake by 1,902 shares in the first quarter, leaving it with 331,553 shares worth about $573.3 million. MercadoLibre remains one of the firm’s largest holdings.
• MercadoLibre reported mixed quarterly results: revenue jumped 49% year over year to $8.85 billion, but EPS came in at $8.23, missing analyst expectations of $8.75.
• Wall Street sentiment remains generally positive but has softened slightly, with several analysts cutting price targets; the stock now has a Moderate Buy consensus and an average target price of $2,255.33.

Assenagon Asset Management S.A. cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 331,553 shares of the company's stock after selling 1,902 shares during the quarter. MercadoLibre accounts for 0.9% of Assenagon Asset Management S.A.'s investment portfolio, making the stock its 17th largest holding. Assenagon Asset Management S.A. owned about 0.65% of MercadoLibre worth $573,262,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Interchange Capital Partners LLC grew its holdings in MercadoLibre by 2.1% in the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company's stock worth $490,000 after purchasing an additional 5 shares during the period. Cornerstone Select Advisors LLC raised its holdings in shares of MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock valued at $355,000 after purchasing an additional 5 shares during the period. Mitchell Capital Management Co. boosted its position in shares of MercadoLibre by 0.4% during the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock worth $2,542,000 after purchasing an additional 5 shares in the last quarter. Strategic Advisors LLC boosted its position in shares of MercadoLibre by 0.4% during the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock worth $2,564,000 after purchasing an additional 5 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC grew its stake in shares of MercadoLibre by 2.0% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock valued at $605,000 after buying an additional 5 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Trading Down 0.4%

NASDAQ MELI opened at $1,583.66 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $1,699.06 and a 200 day simple moving average of $1,850.99. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The firm has a market capitalization of $80.29 billion, a P/E ratio of 41.80, a PEG ratio of 0.98 and a beta of 1.36.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to analysts' expectations of $8.29 billion. During the same period in the prior year, the firm earned $9.74 earnings per share. MercadoLibre's revenue was up 49.0% compared to the same quarter last year. On average, analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Citigroup lowered MercadoLibre from a "buy" rating to a "neutral" rating and decreased their target price for the company from $2,200.00 to $1,950.00 in a research report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. Cantor Fitzgerald reduced their price objective on MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating for the company in a research note on Tuesday, April 21st. Wedbush lowered their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 25th. Finally, Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $2,255.33.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the company's stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company's stock.

MercadoLibre Profile

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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