Assenagon Asset Management S.A. Cuts Position in MercadoLibre, Inc. (NASDAQ:MELI)

Assenagon Asset Management S.A. trimmed its position in MercadoLibre, Inc. (NASDAQ:MELI) by 32.8% during the third quarter, HoldingsChannel.com reports. The firm owned 90,345 shares of the company’s stock after selling 44,069 shares during the quarter. Assenagon Asset Management S.A.’s holdings in MercadoLibre were worth $185,384,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MELI. Vanguard Group Inc. raised its holdings in shares of MercadoLibre by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 182,392 shares of the company’s stock worth $286,636,000 after purchasing an additional 3,577 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in shares of MercadoLibre during the 1st quarter valued at about $73,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of MercadoLibre by 19.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,482 shares of the company’s stock valued at $3,753,000 after buying an additional 396 shares during the period. Dohj LLC raised its holdings in shares of MercadoLibre by 4.0% during the 1st quarter. Dohj LLC now owns 338 shares of the company’s stock valued at $511,000 after buying an additional 13 shares during the period. Finally, Register Financial Advisors LLC purchased a new stake in shares of MercadoLibre during the 1st quarter valued at about $68,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MELI has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price on the stock. in a report on Wednesday, October 2nd. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 11th. Barclays raised their price objective on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. StockNews.com lowered MercadoLibre from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Finally, Citigroup raised their price objective on MercadoLibre from $2,200.00 to $2,480.00 and gave the company a “buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $2,301.67.

MercadoLibre Stock Performance

Shares of MELI traded up $18.20 during mid-day trading on Thursday, hitting $2,056.90. The stock had a trading volume of 49,222 shares, compared to its average volume of 346,193. MercadoLibre, Inc. has a fifty-two week low of $1,162.73 and a fifty-two week high of $2,161.73. The company has a market cap of $104.28 billion, a PE ratio of 91.45, a PEG ratio of 1.25 and a beta of 1.61. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. The company’s fifty day simple moving average is $2,044.50 and its two-hundred day simple moving average is $1,775.88.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the firm posted $5.16 EPS. The business’s revenue for the quarter was up 41.5% compared to the same quarter last year. On average, equities analysts expect that MercadoLibre, Inc. will post 37.55 earnings per share for the current year.

MercadoLibre 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.