Oppenheimer & Co. Inc. Has $6.33 Million Position in MercadoLibre, Inc. $MELI

Oppenheimer & Co. Inc. lifted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 79.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,710 shares of the company’s stock after purchasing an additional 1,204 shares during the period. Oppenheimer & Co. Inc.’s holdings in MercadoLibre were worth $6,333,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Provident Co of the Employees of the Hebrew University LTD raised its holdings in shares of MercadoLibre by 156.8% in the third quarter. Provident Co of the Employees of the Hebrew University LTD now owns 963 shares of the company’s stock valued at $2,244,000 after buying an additional 588 shares during the last quarter. Meixler Investment Management Ltd. increased its position in MercadoLibre by 18.5% in the 3rd quarter. Meixler Investment Management Ltd. now owns 218 shares of the company’s stock valued at $509,000 after acquiring an additional 34 shares in the last quarter. Cardinal Point Capital Management ULC bought a new position in shares of MercadoLibre in the third quarter worth about $456,000. Canvas Wealth Advisors LLC raised its stake in shares of MercadoLibre by 0.5% in the third quarter. Canvas Wealth Advisors LLC now owns 1,319 shares of the company’s stock worth $2,866,000 after acquiring an additional 6 shares during the last quarter. Finally, Correct Capital Wealth Management lifted its position in shares of MercadoLibre by 4.6% during the third quarter. Correct Capital Wealth Management now owns 274 shares of the company’s stock worth $640,000 after purchasing an additional 12 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MercadoLibre news, Director Henrique Vasoncelos Dubugras sold 845 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $2,028.14, for a total value of $1,713,778.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Emiliano Calemzuk sold 45 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $2,027.37, for a total value of $91,231.65. Following the transaction, the director owned 257 shares of the company’s stock, valued at $521,034.09. The trade was a 14.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,136 shares of company stock valued at $2,308,788 over the last three months. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Cantor Fitzgerald lowered their price target on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Morgan Stanley increased their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a research report on Monday, November 3rd. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Barclays boosted their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings lowered MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and a consensus price target of $2,876.88.

MercadoLibre Price Performance

MELI opened at $2,025.32 on Wednesday. The company has a fifty day moving average price of $2,072.45 and a two-hundred day moving average price of $2,199.29. The firm has a market capitalization of $102.68 billion, a PE ratio of 49.42, a P/E/G ratio of 1.01 and a beta of 1.44. MercadoLibre, Inc. has a 52 week low of $1,723.90 and a 52 week high of $2,645.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.15 and a current ratio of 1.17.

About MercadoLibre

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.