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

Assenagon Asset Management S.A. lifted its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 803.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 333,455 shares of the company’s stock after buying an additional 296,543 shares during the period. MercadoLibre makes up 0.9% of Assenagon Asset Management S.A.’s holdings, making the stock its 16th biggest position. Assenagon Asset Management S.A. owned 0.66% of MercadoLibre worth $671,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Weitz Investment Management Inc. purchased a new stake in shares of MercadoLibre in the third quarter valued at about $8,647,000. Barlow Wealth Partners Inc. raised its stake in MercadoLibre by 126.7% during the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock worth $26,886,000 after purchasing an additional 6,429 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in MercadoLibre by 14.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock valued at $202,610,000 after purchasing an additional 10,849 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in MercadoLibre by 18.7% in the 3rd quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock valued at $112,414,000 after purchasing an additional 7,570 shares during the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of MercadoLibre by 5.5% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,560 shares of the company’s stock valued at $27,015,000 after buying an additional 600 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MELI has been the topic of several analyst reports. UBS Group reduced their price target on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Barclays lowered their price objective on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Dbs Bank raised MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $2,650.00 to $2,100.00 in a research report on Thursday, March 12th. Finally, Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $2,708.67.

MercadoLibre Stock Performance

NASDAQ:MELI opened at $1,666.08 on Tuesday. MercadoLibre, Inc. has a fifty-two week low of $1,631.18 and a fifty-two week high of $2,645.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. The company has a 50 day moving average price of $1,938.48 and a 200 day moving average price of $2,083.94. The stock has a market capitalization of $84.47 billion, a P/E ratio of 42.29, a PEG ratio of 0.80 and a beta of 1.48.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Tuesday, February 24th. The company reported $11.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.66 by ($0.63). MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. The firm had revenue of $8.76 billion during the quarter, compared to analysts’ expectations of $8.45 billion. During the same period in the previous year, the firm earned $12.61 EPS. The firm’s revenue for the quarter was up 44.6% compared to the same quarter last year. Equities research analysts forecast that MercadoLibre, Inc. will post 43.96 EPS for the current year.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.