MercadoLibre, Inc. $MELI Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its stake in MercadoLibre, Inc. by 52.2% during the 2nd quarter, now holding approximately 0.26% of the company, valued at about $343 million.
• Several institutional investors have increased their stakes, with Invesco Ltd. growing its position by 22.4% in the 1st quarter, now owning shares worth over $1.1 billion.
• Wall Street analysts maintain a generally positive outlook for MercadoLibre, with a consensus target price of $2,817.22 and a rating of "Moderate Buy".

Assenagon Asset Management S.A. reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 52.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 131,383 shares of the company's stock after selling 143,577 shares during the period. Assenagon Asset Management S.A. owned about 0.26% of MercadoLibre worth $343,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MELI. Key Financial Inc purchased a new stake in MercadoLibre during the first quarter valued at approximately $25,000. GW&K Investment Management LLC purchased a new stake in MercadoLibre during the first quarter valued at approximately $25,000. Park Square Financial Group LLC purchased a new stake in MercadoLibre during the fourth quarter valued at approximately $26,000. Close Asset Management Ltd increased its holdings in MercadoLibre by 366.7% during the first quarter. Close Asset Management Ltd now owns 14 shares of the company's stock valued at $27,000 after buying an additional 11 shares during the last quarter. Finally, Brooklyn Investment Group increased its holdings in MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company's stock valued at $29,000 after buying an additional 13 shares during the last quarter. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

NASDAQ MELI traded up $35.31 on Tuesday, hitting $2,495.97. 73,651 shares of the company's stock traded hands, compared to its average volume of 388,820. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The firm's 50-day moving average price is $2,383.72 and its two-hundred day moving average price is $2,323.05. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The firm has a market capitalization of $126.55 billion, a PE ratio of 61.43, a P/E/G ratio of 1.60 and a beta of 1.49.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The firm had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter in the prior year, the firm earned $10.48 earnings per share. The business's revenue for the quarter was up 33.8% on a year-over-year basis. As a group, analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Wall Street Zen cut shares of MercadoLibre from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. UBS Group set a $3,000.00 price objective on shares of MercadoLibre in a research note on Monday, June 2nd. Cantor Fitzgerald reissued an "overweight" rating and issued a $2,700.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Daiwa Capital Markets assumed coverage on shares of MercadoLibre in a research note on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price objective for the company. Finally, Barclays reduced their price objective on shares of MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of "Moderate Buy" and a consensus target price of $2,817.22.

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.