MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $626,000 Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 51.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 321 shares of the company's stock after buying an additional 109 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in MercadoLibre were worth $626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MELI. Ritholtz Wealth Management lifted its position in MercadoLibre by 148.3% during the first quarter. Ritholtz Wealth Management now owns 427 shares of the company's stock worth $833,000 after purchasing an additional 255 shares during the period. Tcfg Wealth Management LLC bought a new stake in MercadoLibre during the first quarter worth about $228,000. Vaughan Nelson Investment Management L.P. lifted its position in MercadoLibre by 35.1% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,080 shares of the company's stock worth $4,058,000 after purchasing an additional 540 shares during the period. CRA Financial Services LLC bought a new stake in MercadoLibre during the first quarter worth about $211,000. Finally, Opal Wealth Advisors LLC bought a new stake in MercadoLibre during the first quarter worth about $88,000. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MELI shares. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research report on Monday, June 2nd. JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a research report on Thursday, May 22nd. Morgan Stanley reissued an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Citigroup reissued a "buy" rating on shares of MercadoLibre in a report on Friday, June 6th. Finally, Wall Street Zen raised shares of MercadoLibre from a "hold" rating to a "buy" rating in a report on Saturday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $2,632.50.

MercadoLibre Stock Up 0.1%

Shares of NASDAQ MELI opened at $2,371.98 on Monday. The company has a 50 day simple moving average of $2,340.95 and a 200 day simple moving average of $2,074.79. The firm has a market cap of $120.25 billion, a PE ratio of 62.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.51. MercadoLibre, Inc. has a 1 year low of $1,550.00 and a 1 year high of $2,635.88. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The firm's quarterly revenue was up 37.0% on a year-over-year basis. During the same quarter last year, the business earned $6.78 EPS. On average, research 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.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.