Allianz Asset Management GmbH Sells 16,059 Shares of MercadoLibre, Inc. $MELI

Allianz Asset Management GmbH decreased its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 15.2% in the fourth quarter, HoldingsChannel reports. The fund owned 89,396 shares of the company’s stock after selling 16,059 shares during the quarter. Allianz Asset Management GmbH’s holdings in MercadoLibre were worth $180,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. GW&K Investment Management LLC lifted its position in MercadoLibre by 81.3% during the fourth quarter. GW&K Investment Management LLC now owns 29 shares of the company’s stock valued at $58,000 after acquiring an additional 13 shares during the last quarter. X Square Capital LLC increased its stake in shares of MercadoLibre by 103.2% in the fourth quarter. X Square Capital LLC now owns 3,830 shares of the company’s stock worth $7,714,000 after acquiring an additional 1,945 shares during the period. Gordian Capital Singapore Pte Ltd increased its stake in shares of MercadoLibre by 14.3% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 800 shares of the company’s stock worth $1,611,000 after acquiring an additional 100 shares during the period. TIAA Trust National Association increased its stake in shares of MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock worth $22,179,000 after acquiring an additional 1,083 shares during the period. Finally, Cerity Partners LLC increased its stake in shares of MercadoLibre by 9.3% in the fourth quarter. Cerity Partners LLC now owns 4,799 shares of the company’s stock worth $9,669,000 after acquiring an additional 409 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Performance

MELI opened at $1,641.16 on Wednesday. The firm has a market capitalization of $83.21 billion, a PE ratio of 43.31, a PEG ratio of 0.99 and a beta of 1.36. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,645.22. The firm’s 50-day moving average price is $1,721.27 and its 200 day moving average price is $1,880.43. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

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

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the transaction, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Benchmark dropped their price target on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research report on Friday, May 8th. BTIG Research restated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. UBS Group dropped their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Finally, Scotiabank dropped their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.