Allianz SE Invests $2.71 Million in MercadoLibre, Inc. (NASDAQ:MELI)

Allianz SE acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI) in the fourth quarter, HoldingsChannel reports. The firm acquired 1,571 shares of the company’s stock, valued at approximately $2,705,000.

A number of other hedge funds have also recently bought and sold shares of MELI. Allstate Corp acquired a new position in shares of MercadoLibre during the 4th quarter valued at about $2,307,000. DnB Asset Management AS increased its position in MercadoLibre by 6.6% during the fourth quarter. DnB Asset Management AS now owns 44,192 shares of the company’s stock worth $75,146,000 after purchasing an additional 2,744 shares during the last quarter. Level Four Advisory Services LLC raised its stake in MercadoLibre by 6.7% during the fourth quarter. Level Four Advisory Services LLC now owns 624 shares of the company’s stock worth $1,061,000 after purchasing an additional 39 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of MercadoLibre by 51.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 1,232 shares of the company’s stock valued at $2,095,000 after purchasing an additional 420 shares during the last quarter. Finally, X Square Capital LLC grew its stake in shares of MercadoLibre by 64.0% during the 4th quarter. X Square Capital LLC now owns 2,795 shares of the company’s stock valued at $4,752,000 after buying an additional 1,091 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Susquehanna lifted their target price on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a “positive” rating in a report on Friday, February 21st. Bank of America boosted their target price on MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Cantor Fitzgerald raised their price target on shares of MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Wedbush decreased their price objective on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an “outperform” rating for the company in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $1,950.00 to $2,300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $2,402.81.

MercadoLibre Price Performance

MELI stock opened at $2,048.07 on Friday. The stock’s 50 day moving average is $2,028.39 and its two-hundred day moving average is $1,974.17. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company has a market capitalization of $103.83 billion, a PE ratio of 54.33, a P/E/G ratio of 1.12 and a beta of 1.64. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.21 by $2.40. The business had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

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.