MercadoLibre, Inc. $MELI Position Lowered by Baader Bank Aktiengesellschaft

Key Points

• Baader Bank Aktiengesellschaft reduced its stake in MercadoLibre by 59%, now owning 751 shares after selling 1,081 shares in the second quarter.
• MercadoLibre reported $10.31 EPS, missing expectations, but its revenue increased 33.8% year-over-year, reaching $6.79 billion.
• Analyst ratings for MercadoLibre are generally positive, with a consensus rating of "Moderate Buy" and a price target of $2,817.22.

Baader Bank Aktiengesellschaft lowered its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 59.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 751 shares of the company's stock after selling 1,081 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in MercadoLibre were worth $1,929,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its stake in shares of MercadoLibre by 170.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock worth $536,411,000 after acquiring an additional 173,449 shares in the last quarter. Invesco Ltd. boosted its stake in shares of MercadoLibre by 22.4% during the 1st quarter. Invesco Ltd. now owns 570,967 shares of the company's stock worth $1,113,881,000 after acquiring an additional 104,554 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of MercadoLibre by 21.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock worth $1,073,823,000 after acquiring an additional 96,283 shares in the last quarter. GQG Partners LLC boosted its stake in shares of MercadoLibre by 23.5% during the 1st quarter. GQG Partners LLC now owns 461,875 shares of the company's stock worth $901,058,000 after acquiring an additional 87,912 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of MercadoLibre during the 1st quarter worth approximately $143,367,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Trading Down 0.3%

Shares of MELI stock traded down $6.52 on Monday, reaching $2,445.82. 121,112 shares of the stock were exchanged, compared to its average volume of 389,613. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The stock has a market cap of $124.00 billion, a P/E ratio of 60.50, a price-to-earnings-growth ratio of 1.60 and a beta of 1.49. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $2,382.11 and a two-hundred day moving average of $2,319.89.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly 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 net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the company posted $10.48 earnings per share. The firm's revenue for the quarter was up 33.8% on a year-over-year basis. On average, research analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MELI shares. Barclays decreased their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. UBS Group set a $3,000.00 target price on MercadoLibre in a research note on Monday, June 2nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $2,700.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Benchmark reaffirmed a "buy" rating and issued a $2,875.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Citigroup reduced their target price on MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, MercadoLibre has an average rating of "Moderate Buy" and a consensus price target of $2,817.22.

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.