MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Raises Position in MercadoLibre, Inc. $MELI

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH significantly increased its stake in MercadoLibre, Inc. by 382.9% during the second quarter, holding a total of 1,550 shares valued at approximately $4.05 million.
• Several institutional investors, including Assenagon Asset Management and Invesco, also raised their stakes in MercadoLibre, with 87.62% of the stock now being owned by institutional investors.
• Despite reporting $10.31 earnings per share, MercadoLibre fell short of consensus estimates, leading to a mixed outlook among analysts who have a consensus rating of "Moderate Buy".

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 382.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,550 shares of the company's stock after acquiring an additional 1,229 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in MercadoLibre were worth $4,051,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MELI. Assenagon Asset Management S.A. raised its stake in shares of MercadoLibre by 170.9% during the first quarter. Assenagon Asset Management S.A. now owns 274,960 shares of the company's stock valued at $536,411,000 after acquiring an additional 173,449 shares during the last quarter. Invesco Ltd. increased its position in shares of MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company's stock valued at $1,113,881,000 after buying an additional 104,554 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of MercadoLibre by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company's stock valued at $1,073,823,000 after buying an additional 96,283 shares during the period. GQG Partners LLC increased its position in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company's stock valued at $901,058,000 after buying an additional 87,912 shares during the period. Finally, Nuveen LLC purchased a new position in shares of MercadoLibre during the first quarter valued at about $143,367,000. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MELI has been the topic of several research analyst reports. Cantor Fitzgerald boosted 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. Benchmark restated a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Citigroup cut their price objective on shares of MercadoLibre from $2,900.00 to $2,850.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Wedbush set a $2,700.00 price objective on shares of MercadoLibre and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $2,828.33.

MercadoLibre Trading Up 0.7%

Shares of NASDAQ MELI opened at $2,510.97 on Thursday. The firm's 50 day moving average price is $2,387.92 and its 200-day moving average price is $2,325.53. The company has a market cap of $127.31 billion, a PE ratio of 62.01, a P/E/G ratio of 1.62 and a beta of 1.49. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its 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). The firm had revenue of $6.79 billion during 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 quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $10.48 EPS. On average, equities research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.

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.