Allianz Asset Management GmbH Reduces Holdings in MercadoLibre, Inc. $MELI

Allianz Asset Management GmbH lowered its position in MercadoLibre, Inc. (NASDAQ:MELI) by 4.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 105,455 shares of the company’s stock after selling 5,214 shares during the quarter. Allianz Asset Management GmbH’s holdings in MercadoLibre were worth $246,442,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Darwin Wealth Management LLC acquired a new stake in MercadoLibre during the 2nd quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of MercadoLibre in the 3rd quarter valued at approximately $35,000. Cullen Frost Bankers Inc. boosted its stake in shares of MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock valued at $37,000 after buying an additional 8 shares during the last quarter. Curio Wealth LLC grew its position in shares of MercadoLibre by 1,400.0% during the second quarter. Curio Wealth LLC now owns 15 shares of the company’s stock worth $39,000 after buying an additional 14 shares in the last quarter. Finally, Stone House Investment Management LLC acquired a new stake in shares of MercadoLibre during the second quarter worth approximately $39,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Susquehanna cut their price target on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating on the stock in a report on Monday, October 13th. Dbs Bank upgraded shares of MercadoLibre from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, December 2nd. BTIG Research reaffirmed a “buy” rating and set a $2,750.00 price target on shares of MercadoLibre in a research report on Thursday, December 4th. UBS Group lowered their price objective on MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating for the company in a report on Monday, November 24th. Finally, Wedbush reduced their target price on MercadoLibre from $2,800.00 to $2,700.00 and set an “outperform” rating on the stock in a report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,876.88.

Insider Transactions at MercadoLibre

In other MercadoLibre news, Director Stelleo Tolda sold 246 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $2,047.88, for a total value of $503,778.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Emiliano Calemzuk sold 45 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $2,027.37, for a total value of $91,231.65. Following the completion of the sale, the director owned 257 shares in the company, valued at $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,136 shares of company stock worth $2,308,788. 0.25% of the stock is currently owned by company insiders.

MercadoLibre Price Performance

MELI opened at $2,146.75 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $2,075.77 and its 200 day moving average price is $2,214.13. MercadoLibre, Inc. has a fifty-two week low of $1,723.90 and a fifty-two week high of $2,645.22. The firm has a market cap of $108.84 billion, a price-to-earnings ratio of 52.39, a price-to-earnings-growth ratio of 1.07 and a beta of 1.44.

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.