Generali Asset Management SPA SGR Acquires 469 Shares of MercadoLibre, Inc. $MELI

Key Points

• Generali Asset Management SPA SGR increased its stake in MercadoLibre, Inc. by 10.1% in Q2, acquiring an additional 469 shares, bringing its total holdings to 5,093 shares worth $13,311,000.
• Hedge funds and institutional investors hold a significant portion of MercadoLibre's stock, with 87.62% ownership reported.
• Analysts have set varying price targets for MercadoLibre, with an average target of $2,810.88 and the consensus rating categorized as a "Moderate Buy."

Generali Asset Management SPA SGR increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.1% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,093 shares of the company's stock after buying an additional 469 shares during the quarter. Generali Asset Management SPA SGR's holdings in MercadoLibre were worth $13,311,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Key Financial Inc bought a new stake in shares of MercadoLibre in the first quarter worth approximately $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre in the first quarter worth approximately $25,000. Close Asset Management Ltd boosted its holdings in MercadoLibre by 366.7% in the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after purchasing an additional 11 shares during the last quarter. Brooklyn Investment Group grew its position in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after purchasing an additional 13 shares during the period. Finally, Twin Tree Management LP purchased a new stake in MercadoLibre during the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Scotiabank began coverage on MercadoLibre in a report on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating for the company in a research report on Friday, October 3rd. Wedbush set a $2,700.00 target price on MercadoLibre and gave the stock an "outperform" rating in a research report on Tuesday, August 5th. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,700.00 to $2,900.00 and gave the company an "overweight" rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $2,810.88.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $2,157.82 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a 50-day simple moving average of $2,354.09 and a two-hundred day simple moving average of $2,347.41. The firm has a market capitalization of $109.40 billion, a PE ratio of 53.29, a P/E/G ratio of 1.45 and a beta of 1.46. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22.

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

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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