DekaBank Deutsche Girozentrale Has $144.73 Million Stock Position in MercadoLibre, Inc. $MELI

Key Points

• DekaBank Deutsche Girozentrale increased its stake in MercadoLibre, Inc. by 3.0% in Q2, owning approximately 0.11% of the company, valued at $144.73 million.
• MercadoLibre reported earnings per share of $10.31, missing analysts' estimates, but achieved revenue growth of 33.8% year-over-year, totaling $6.79 billion.
• Institutional investors hold 87.62% of MercadoLibre's stock, with multiple analysts maintaining a mostly positive outlook and an average target price of $2,810.88.

DekaBank Deutsche Girozentrale lifted its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,537 shares of the company's stock after acquiring an additional 1,611 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.11% of MercadoLibre worth $144,733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Optimize Financial Inc increased its position in shares of MercadoLibre by 1.7% in the first quarter. Optimize Financial Inc now owns 238 shares of the company's stock valued at $464,000 after acquiring an additional 4 shares during the last quarter. Range Financial Group LLC grew its holdings in MercadoLibre by 2.7% during the second quarter. Range Financial Group LLC now owns 188 shares of the company's stock worth $491,000 after purchasing an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its holdings in MercadoLibre by 26.3% during the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 24 shares of the company's stock worth $63,000 after purchasing an additional 5 shares during the period. Forum Financial Management LP grew its holdings in MercadoLibre by 3.1% during the first quarter. Forum Financial Management LP now owns 199 shares of the company's stock worth $388,000 after purchasing an additional 6 shares during the period. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in MercadoLibre by 37.5% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 22 shares of the company's stock worth $43,000 after purchasing an additional 6 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Trading Up 3.8%

Shares of NASDAQ:MELI opened at $2,102.11 on Tuesday. MercadoLibre, Inc. has a 12-month low of $1,646.00 and a 12-month high of $2,645.22. The stock has a market cap of $106.57 billion, a PE ratio of 51.92, a P/E/G ratio of 1.37 and a beta of 1.46. The business has a 50 day moving average of $2,332.51 and a 200-day moving average of $2,354.26. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $6.57 billion. MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company's revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.48 EPS. As a group, equities research analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a report on Friday, October 3rd. Daiwa Capital Markets assumed coverage on MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of MercadoLibre in a report on Wednesday, October 8th. Jefferies Financial Group reiterated a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Finally, Barclays reduced their price objective on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. One 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $2,810.88.

MercadoLibre 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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