Oppenheimer Asset Management Inc. Has $21.27 Million Stock Position in MercadoLibre, Inc. $MELI

Oppenheimer Asset Management Inc. lowered its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,139 shares of the company’s stock after selling 162 shares during the period. Oppenheimer Asset Management Inc.’s holdings in MercadoLibre were worth $21,272,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Jennison Associates LLC raised its stake in shares of MercadoLibre by 1.6% during the first quarter. Jennison Associates LLC now owns 1,154,116 shares of the company’s stock valued at $2,251,531,000 after acquiring an additional 18,731 shares during the last quarter. Invesco Ltd. raised its stake in shares of MercadoLibre by 22.4% during the first quarter. Invesco Ltd. now owns 570,967 shares of the company’s stock valued at $1,113,881,000 after acquiring an additional 104,554 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of MercadoLibre by 21.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 550,433 shares of the company’s stock valued at $1,073,823,000 after acquiring an additional 96,283 shares during the last quarter. Generation Investment Management LLP raised its stake in shares of MercadoLibre by 3.3% during the first quarter. Generation Investment Management LLP now owns 530,564 shares of the company’s stock valued at $1,035,061,000 after acquiring an additional 16,878 shares during the last quarter. Finally, GQG Partners LLC raised its stake in shares of MercadoLibre by 23.5% during the first quarter. GQG Partners LLC now owns 461,875 shares of the company’s stock valued at $901,058,000 after acquiring an additional 87,912 shares during the last quarter. Institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.6%

MELI opened at $2,161.11 on Friday. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company has a market cap of $109.57 billion, a P/E ratio of 53.37, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The company has a fifty day moving average price of $2,315.64 and a two-hundred day moving average price of $2,359.44.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The firm had revenue of $6.79 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same period in the previous year, the company earned $10.48 earnings per share. MercadoLibre’s revenue for the quarter was up 33.8% compared to the same quarter last year. Analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of MercadoLibre in a research note on Wednesday, October 8th. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the stock an “outperform” rating in a research note on Tuesday, August 5th. Susquehanna lowered their target price on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research note on Monday, October 13th. Jefferies Financial Group reissued a “hold” rating and set a $2,800.00 target price on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research note on Friday, August 1st. They set a “buy” rating and a $3,000.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, MercadoLibre presently has a consensus rating of “Moderate Buy” and a consensus target price of $2,799.12.

About MercadoLibre

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.