Commerzbank Aktiengesellschaft FI Takes $221,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Commerzbank Aktiengesellschaft FI acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 113 shares of the company's stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Key Financial Inc acquired a new stake in shares of MercadoLibre in the first quarter valued at about $25,000. Park Square Financial Group LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $26,000. Covestor Ltd acquired a new stake in MercadoLibre during the fourth quarter worth about $27,000. Heck Capital Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter worth about $32,000. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in MercadoLibre by 375.0% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock worth $37,000 after buying an additional 15 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Up 2.7%

NASDAQ MELI opened at $2,413.57 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57. MercadoLibre, Inc. has a 1-year low of $1,579.78 and a 1-year high of $2,645.22. The company has a 50 day moving average of $2,492.77 and a 200-day moving average of $2,181.16. The company has a market cap of $122.37 billion, a price-to-earnings ratio of 59.36, a PEG ratio of 1.40 and a beta of 1.49.

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

Analysts Set New Price Targets

A number of research firms have weighed in on MELI. Citigroup reaffirmed a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Cantor Fitzgerald decreased their price objective on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Barclays lifted their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. boosted their target price on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. 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 given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $2,645.94.

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.

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