OP Asset Management Ltd Makes New $18.39 Million Investment in MercadoLibre, Inc. $MELI

OP Asset Management Ltd purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, HoldingsChannel.com reports. The fund purchased 10,635 shares of the company’s stock, valued at approximately $18,388,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Laurel Wealth Advisors LLC bought a new stake in shares of MercadoLibre during the fourth quarter worth $26,000. Transamerica Financial Advisors LLC bought a new stake in MercadoLibre in the 4th quarter valued at $26,000. Purpose Unlimited Inc. bought a new stake in MercadoLibre in the 4th quarter valued at $28,000. Darwin Wealth Management LLC acquired a new position in MercadoLibre in the 2nd quarter worth $29,000. Finally, Curio Wealth LLC acquired a new position in MercadoLibre in the 4th quarter worth $30,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insiders Place Their Bets

In related news, Director Alejandro Nicolas Aguzin purchased 600 shares of the stock in a transaction on Friday, May 22nd. The shares were purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Trading Up 4.8%

Shares of NASDAQ:MELI opened at $1,659.57 on Thursday. The company’s 50-day moving average price is $1,695.62 and its two-hundred day moving average price is $1,847.61. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. The stock has a market capitalization of $84.14 billion, a PE ratio of 43.80, a price-to-earnings-growth ratio of 0.98 and a beta of 1.36.

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. UBS Group dropped their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Jefferies Financial Group raised MercadoLibre from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Wedbush dropped their target price on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Barclays cut their target price on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Finally, The Goldman Sachs Group set a $2,100.00 price target on MercadoLibre in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, MercadoLibre presently has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

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.