Allianz Asset Management GmbH Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Allianz Asset Management GmbH lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 70,148 shares of the company’s stock after acquiring an additional 3,354 shares during the period. Allianz Asset Management GmbH’s holdings in MercadoLibre were worth $119,282,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Swedbank AB boosted its stake in MercadoLibre by 352.8% in the third quarter. Swedbank AB now owns 94,123 shares of the company’s stock valued at $193,137,000 after acquiring an additional 73,336 shares during the last quarter. Signaturefd LLC raised its holdings in shares of MercadoLibre by 7.0% in the 3rd quarter. Signaturefd LLC now owns 260 shares of the company’s stock worth $534,000 after purchasing an additional 17 shares during the period. Greenleaf Trust purchased a new position in MercadoLibre in the third quarter valued at approximately $271,000. International Assets Investment Management LLC lifted its stake in MercadoLibre by 205,108.3% in the third quarter. International Assets Investment Management LLC now owns 248,302 shares of the company’s stock valued at $509,506,000 after purchasing an additional 248,181 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. grew its holdings in MercadoLibre by 5.2% during the third quarter. Beese Fulmer Investment Management Inc. now owns 181 shares of the company’s stock valued at $371,000 after purchasing an additional 9 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research reports. Citigroup lowered their target price on MercadoLibre from $2,480.00 to $2,450.00 and set a “buy” rating on the stock in a research note on Tuesday, November 26th. Cantor Fitzgerald upped their price objective on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday. Raymond James upgraded shares of MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 target price for the company in a research note on Tuesday, January 21st. Bank of America upped their price target on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the company a “buy” rating in a research note on Friday. Finally, BTIG Research cut their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $2,364.06.

MercadoLibre Stock Up 7.1 %

MELI opened at $2,260.00 on Friday. The firm has a market capitalization of $114.58 billion, a P/E ratio of 79.75, a price-to-earnings-growth ratio of 1.10 and a beta of 1.62. MercadoLibre, Inc. has a one year low of $1,324.99 and a one year high of $2,374.54. The company has a fifty day moving average price of $1,867.29 and a 200-day moving average price of $1,956.30. 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) last posted its earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a return on equity of 40.71% and a net margin of 7.57%. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $5.94 billion. Equities research analysts expect that MercadoLibre, Inc. will post 32.98 earnings per share for the current fiscal year.

Insider Transactions at MercadoLibre

In other news, Director Emiliano Calemzuk sold 50 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total transaction of $99,249.00. Following the sale, the director now owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by insiders.

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.