OceanIQ Capital LLC Acquires Shares of 840 MercadoLibre, Inc. $MELI

OceanIQ Capital LLC bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 840 shares of the company’s stock, valued at approximately $1,426,000. MercadoLibre accounts for about 0.9% of OceanIQ Capital LLC’s investment portfolio, making the stock its 19th largest position.

A number of other large investors have also modified their holdings of the business. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre during the fourth quarter worth $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre during the 4th quarter valued at approximately $28,000. Wedbush Fund Advisers LLC acquired a new stake in shares of MercadoLibre during the 2nd quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $29,000. Finally, Curio Wealth LLC acquired a new stake in shares of MercadoLibre in the 4th quarter worth approximately $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,978.36 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The business’s fifty day moving average price is $1,859.43 and its two-hundred day moving average price is $1,770.98. The stock has a market cap of $100.30 billion, a PE ratio of 53.80, a price-to-earnings-growth ratio of 1.36 and a beta of 1.31. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same period in the previous year, the firm posted $10.31 earnings per share. The business’s revenue for the quarter was up 49.8% compared to the same quarter last year. On average, analysts forecast that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MELI shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Barclays lowered their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Daiwa Securities Group cut shares of MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a research note on Friday, May 8th. Finally, Morgan Stanley dropped their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre 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.