MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $435,000 Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 211.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 212 shares of the company’s stock after buying an additional 144 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in MercadoLibre were worth $435,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in MercadoLibre by 1,600.0% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after buying an additional 16 shares during the period. First PREMIER Bank acquired a new position in shares of MercadoLibre during the first quarter worth $27,000. Financial Connections Group Inc. bought a new stake in shares of MercadoLibre in the second quarter worth $36,000. Scarborough Advisors LLC acquired a new stake in MercadoLibre in the fourth quarter valued at $36,000. Finally, Quarry LP bought a new position in MercadoLibre during the 2nd quarter worth $43,000. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MELI shares. Raymond James initiated coverage on MercadoLibre in a research note on Friday, September 27th. They issued an “outperform” rating and a $2,350.00 price target for the company. StockNews.com lowered shares of MercadoLibre from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Dbs Bank raised shares of MercadoLibre from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. downgraded shares of MercadoLibre from an “overweight” rating to a “neutral” rating and set a $2,400.00 target price for the company. in a research note on Wednesday, October 2nd. Finally, Bank of America increased their price target on MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,283.00.

MercadoLibre Stock Performance

MELI opened at $2,079.96 on Tuesday. MercadoLibre, Inc. has a 1-year low of $1,141.04 and a 1-year high of $2,161.73. The company has a market cap of $105.45 billion, a price-to-earnings ratio of 93.06, a PEG ratio of 1.25 and a beta of 1.61. The company’s fifty day moving average price is $2,018.64 and its two-hundred day moving average price is $1,750.46. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67.

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