MercadoLibre, Inc. (NASDAQ:MELI) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 32.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,345 shares of the company’s stock after selling 44,069 shares during the quarter. Assenagon Asset Management S.A. owned about 0.18% of MercadoLibre worth $185,384,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MELI. IFM Investors Pty Ltd lifted its stake in MercadoLibre by 2.2% in the third quarter. IFM Investors Pty Ltd now owns 9,590 shares of the company’s stock valued at $19,678,000 after buying an additional 205 shares during the last quarter. Jackson Wealth Management LLC purchased a new stake in shares of MercadoLibre during the third quarter worth approximately $263,000. CENTRAL TRUST Co raised its stake in shares of MercadoLibre by 19.8% during the third quarter. CENTRAL TRUST Co now owns 919 shares of the company’s stock worth $1,886,000 after purchasing an additional 152 shares during the last quarter. Beese Fulmer Investment Management Inc. raised its stake in shares of MercadoLibre by 5.2% during the third quarter. Beese Fulmer Investment Management Inc. now owns 181 shares of the company’s stock worth $371,000 after purchasing an additional 9 shares during the last quarter. Finally, X Square Capital LLC raised its stake in shares of MercadoLibre by 4.3% during the third quarter. X Square Capital LLC now owns 1,704 shares of the company’s stock worth $3,497,000 after purchasing an additional 70 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MELI has been the subject of several analyst reports. Dbs Bank upgraded MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. StockNews.com cut MercadoLibre from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Susquehanna increased their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lowered 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. Finally, Barclays upped their target price on MercadoLibre from $2,100.00 to $2,500.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,301.67.

MercadoLibre Price Performance

Shares of MELI traded up $18.20 during trading hours on Thursday, reaching $2,056.90. 49,222 shares of the company traded hands, compared to its average volume of 346,193. The stock has a fifty day simple moving average of $2,044.50 and a 200 day simple moving average of $1,775.88. The company has a quick ratio of 1.26, a current ratio of 1.28 and a debt-to-equity ratio of 0.67. MercadoLibre, Inc. has a fifty-two week low of $1,162.73 and a fifty-two week high of $2,161.73. The stock has a market capitalization of $104.28 billion, a PE ratio of 91.45, a price-to-earnings-growth ratio of 1.25 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the company earned $5.16 EPS. The firm’s quarterly revenue was up 41.5% on a year-over-year basis. As a group, research analysts predict that MercadoLibre, Inc. will post 37.55 EPS for the current fiscal year.

About MercadoLibre

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.