E. Ohman J or Asset Management AB Acquires 12,676 Shares of MercadoLibre, Inc. $MELI

E. Ohman J or Asset Management AB grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 257.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,596 shares of the company’s stock after purchasing an additional 12,676 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in MercadoLibre were worth $30,424,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bison Wealth LLC bought a new stake in MercadoLibre in the fourth quarter worth about $206,000. Empowered Funds LLC grew its position in shares of MercadoLibre by 6.9% during the 1st quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after acquiring an additional 49 shares during the period. Focus Partners Wealth increased its stake in shares of MercadoLibre by 42.0% during the 1st quarter. Focus Partners Wealth now owns 602 shares of the company’s stock worth $1,176,000 after purchasing an additional 178 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of MercadoLibre during the 2nd quarter worth approximately $261,000. Finally, Gamco Investors INC. ET AL raised its holdings in shares of MercadoLibre by 21.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock worth $444,000 after purchasing an additional 30 shares during the period. 87.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MELI shares. JPMorgan Chase & Co. reduced their price objective on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. Cantor Fitzgerald reduced their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research report on Tuesday, April 21st. BTIG Research reiterated a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research note on Tuesday, June 2nd. Citigroup cut MercadoLibre from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $2,200.00 to $1,950.00 in a report on Wednesday, May 13th. Finally, UBS Group cut their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,635.15 on Friday. The firm has a fifty day moving average price of $1,706.94 and a two-hundred day moving average price of $1,859.91. The company has a market cap of $82.90 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.01 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.MercadoLibre’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.74 earnings per share. Analysts anticipate that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 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.