3,926 Shares in MercadoLibre, Inc. $MELI Purchased by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 3,926 shares of the company’s stock, valued at approximately $6,664,000.

Several other hedge funds have also recently bought and sold shares of the company. Cornerstone Select Advisors LLC boosted its position in shares of MercadoLibre by 2.9% during the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after acquiring an additional 5 shares in the last quarter. Mitchell Capital Management Co. increased its stake in MercadoLibre by 0.4% in the fourth quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after acquiring an additional 5 shares during the last quarter. Strategic Advisors LLC increased its stake in MercadoLibre by 0.4% in the fourth quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after acquiring an additional 5 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in MercadoLibre by 2.0% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock valued at $605,000 after purchasing an additional 5 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. raised its position in MercadoLibre by 2.7% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 229 shares of the company’s stock valued at $461,000 after purchasing an additional 6 shares in the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $1,966.25 on Friday. The company has a market cap of $99.69 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 1.32 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. The firm has a 50 day simple moving average of $1,824.45 and a 200 day simple moving average of $1,772.36. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s quarterly revenue was up 49.8% on a year-over-year basis. During the same quarter last year, the business posted $10.31 earnings per share. Research analysts predict that MercadoLibre, Inc. will post 39.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MELI. UBS Group reduced their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Weiss Ratings reissued a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Scotiabank lowered their price target on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a report on Thursday, May 7th. Morgan Stanley dropped their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Finally, Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 price objective on the stock. in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2,272.00.

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.