OP Asset Management Ltd Takes Position in MercadoLibre, Inc. $MELI

OP Asset Management Ltd purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,635 shares of the company’s stock, valued at approximately $18,388,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MELI. Laurel Wealth Advisors LLC acquired a new position in MercadoLibre during the 4th quarter valued at about $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre during the 4th quarter worth approximately $28,000. Darwin Wealth Management LLC bought a new stake in shares of MercadoLibre during the second quarter worth approximately $29,000. Finally, Curio Wealth LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth approximately $30,000. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

MercadoLibre Stock Up 4.8%

Shares of NASDAQ:MELI opened at $1,659.57 on Thursday. The company has a 50 day moving average price of $1,695.62 and a two-hundred day moving average price of $1,847.61. 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 company has a market capitalization of $84.14 billion, a PE ratio of 43.80, a PEG ratio of 0.98 and a beta of 1.36. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share 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 the consensus estimate of $8.29 billion. During the same period in the prior year, the business earned $9.74 earnings per share. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. Analysts forecast that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MELI shares. Wedbush reduced their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Barclays reduced their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Raymond James Financial set a $2,000.00 price objective on MercadoLibre in a research note on Friday, May 8th. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, BTIG Research reissued a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

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.