Opal Capital LLC Grows Stake in MercadoLibre, Inc. $MELI

Opal Capital LLC lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1,228.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,975 shares of the company’s stock after buying an additional 2,751 shares during the period. Opal Capital LLC’s holdings in MercadoLibre were worth $5,144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Interchange Capital Partners LLC increased its stake in MercadoLibre by 2.1% in the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock valued at $490,000 after purchasing an additional 5 shares during the last quarter. Cornerstone Select Advisors LLC boosted its holdings in shares of MercadoLibre by 2.9% in the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after buying an additional 5 shares in the last quarter. Mitchell Capital Management Co. grew its position in shares of MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after buying an additional 5 shares during the last quarter. Strategic Advisors LLC grew its position in shares of MercadoLibre by 0.4% in the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after buying an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its stake in MercadoLibre by 2.0% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after acquiring an additional 5 shares in the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MELI shares. Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Citigroup upped their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research note on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a research report on Friday, May 8th. Finally, Benchmark reduced their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,258.67.

Insider Activity

In other news, Director Alejandro Nicolas Aguzin purchased 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

MercadoLibre Stock Performance

Shares of MELI opened at $1,862.52 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a market capitalization of $94.43 billion, a P/E ratio of 49.16, a P/E/G ratio of 1.12 and a beta of 1.35. The company’s fifty day moving average is $1,715.97 and its two-hundred day moving average is $1,808.77. MercadoLibre, Inc. has a 1 year low of $1,495.00 and a 1 year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the previous year, the company posted $9.74 EPS. The firm’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, sell-side analysts predict that MercadoLibre, Inc. will post 41 earnings per share for the current year.

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.