Assenagon Asset Management S.A. Sells 1,902 Shares of MercadoLibre, Inc. $MELI

Assenagon Asset Management S.A. lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 0.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 331,553 shares of the company’s stock after selling 1,902 shares during the quarter. MercadoLibre comprises 0.9% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 17th largest holding. Assenagon Asset Management S.A.’s holdings in MercadoLibre were worth $573,262,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Thompson Siegel & Walmsley LLC boosted its holdings in MercadoLibre by 238.3% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after purchasing an additional 1,430 shares during the period. Brown Advisory Inc. raised its position in shares of MercadoLibre by 2,494.9% in the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after buying an additional 14,770 shares in the last quarter. Weitz Investment Management Inc. bought a new stake in MercadoLibre during the third quarter valued at $8,647,000. TIAA Trust National Association boosted its stake in MercadoLibre by 10.9% during the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after buying an additional 1,083 shares during the period. Finally, Deepwater Asset Management LLC grew its position in MercadoLibre by 38.6% during the fourth quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after buying an additional 2,164 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Down 0.4%

Shares of MercadoLibre stock opened at $1,583.66 on Wednesday. The company has a 50-day moving average of $1,699.06 and a 200 day moving average of $1,850.99. The firm has a market cap of $80.29 billion, a price-to-earnings ratio of 41.80, a PEG ratio of 0.98 and a beta of 1.36. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The company had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company’s revenue was up 49.0% on a year-over-year basis. During the same period in the prior year, the company posted $9.74 earnings per share. As a group, sell-side analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MELI has been the topic of a number of research reports. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research report on Wednesday, May 13th. Itau BBA Securities restated an “outperform” rating on shares of MercadoLibre in a research report on Wednesday, February 25th. Barclays dropped their price objective on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Wedbush dropped their price objective on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Finally, Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and cut their price target for the company from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

About MercadoLibre

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.