Oppenheimer & Co. Inc. Boosts Stake in MercadoLibre, Inc. (NASDAQ:MELI)

Oppenheimer & Co. Inc. boosted its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,222 shares of the company’s stock after purchasing an additional 31 shares during the period. Oppenheimer & Co. Inc.’s holdings in MercadoLibre were worth $2,008,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors lifted its stake in MercadoLibre by 0.4% during the 4th quarter. Capital International Investors now owns 1,037,070 shares of the company’s stock worth $1,630,740,000 after acquiring an additional 4,317 shares in the last quarter. Capital World Investors increased its stake in MercadoLibre by 12.7% during the first quarter. Capital World Investors now owns 845,749 shares of the company’s stock worth $1,278,738,000 after purchasing an additional 95,029 shares during the period. GQG Partners LLC lifted its position in shares of MercadoLibre by 442.2% during the first quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock worth $1,201,679,000 after purchasing an additional 648,198 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of MercadoLibre by 43.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock valued at $1,167,073,000 after purchasing an additional 232,787 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of MercadoLibre by 55.8% in the first quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock valued at $557,225,000 after purchasing an additional 132,028 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Down 0.8 %

MELI stock opened at $2,105.51 on Tuesday. The company’s 50 day moving average is $1,869.28 and its two-hundred day moving average is $1,677.47. MercadoLibre, Inc. has a twelve month low of $1,141.04 and a twelve month high of $2,143.96. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a market cap of $106.74 billion, a P/E ratio of 94.21, a PEG ratio of 1.33 and a beta of 1.61.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 EPS for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a net margin of 8.03% and a return on equity of 43.52%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period last year, the business earned $5.16 EPS. MercadoLibre’s revenue for the quarter was up 41.5% compared to the same quarter last year. Research analysts expect that MercadoLibre, Inc. will post 35.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the subject of several recent research reports. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their price target for the company from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. The Goldman Sachs Group increased their price target on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Susquehanna boosted their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of MercadoLibre from $2,150.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $2,182.92.

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.