Oppenheimer Asset Management Inc. bought a new stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,299 shares of the company’s stock, valued at approximately $12,389,000.
Other hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter valued at approximately $29,000. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre in the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC acquired a new stake in MercadoLibre during the fourth quarter worth $26,000. Purpose Unlimited Inc. acquired a new stake in MercadoLibre during the fourth quarter worth $28,000. Finally, Curio Wealth LLC acquired a new stake in MercadoLibre during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently commented on MELI. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a report on Wednesday, May 13th. Citigroup raised their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Benchmark decreased their target price on shares of MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Barclays lowered their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,272.00.
MercadoLibre Stock Up 0.9%
Shares of NASDAQ MELI opened at $1,844.58 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $1,767.47 and its two-hundred day moving average is $1,788.68. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The firm has a market cap of $93.52 billion, a price-to-earnings ratio of 50.17, a PEG ratio of 1.25 and a beta of 1.34.
MercadoLibre (NASDAQ:MELI – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping the consensus estimate of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the business posted $10.31 earnings per share. The company’s quarterly revenue was up 49.8% on a year-over-year basis. Research analysts predict that MercadoLibre, Inc. will post 39.11 EPS for the current year.
Insider Activity
In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.
MercadoLibre Company Profile
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.
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