E. Ohman J or Asset Management AB Purchases 1,549 Shares of MercadoLibre, Inc. $MELI

E. Ohman J or Asset Management AB raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 8.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,145 shares of the company’s stock after buying an additional 1,549 shares during the period. E. Ohman J or Asset Management AB’s holdings in MercadoLibre were worth $32,497,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Interchange Capital Partners LLC boosted its holdings in shares of MercadoLibre by 2.1% in the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after acquiring an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC increased its holdings in MercadoLibre by 2.9% during the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after purchasing an additional 5 shares in the last quarter. Mitchell Capital Management Co. increased its holdings in MercadoLibre by 0.4% during the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after purchasing an additional 5 shares in the last quarter. Strategic Advisors LLC raised its position in MercadoLibre by 0.4% in the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after purchasing an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its position in MercadoLibre by 2.0% in the 3rd 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 during the last quarter. 87.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MELI shares. UBS Group decreased 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. BTIG Research reaffirmed a “buy” rating and issued a $2,150.00 price target on shares of MercadoLibre in a report on Thursday, August 6th. Cantor Fitzgerald upped their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Barclays decreased their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and a consensus target price of $2,255.33.

Insider Activity at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was acquired at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

MercadoLibre Trading Up 0.2%

MELI opened at $1,824.34 on Tuesday. The firm has a 50 day simple moving average of $1,749.73 and a 200 day simple moving average of $1,793.59. MercadoLibre, Inc. has a fifty-two week low of $1,495.00 and a fifty-two week high of $2,548.50. The company has a market cap of $92.49 billion, a price-to-earnings ratio of 49.61, a price-to-earnings-growth ratio of 1.13 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.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) 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 analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The business’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period last year, the firm earned $10.31 earnings per share. On average, sell-side analysts anticipate that MercadoLibre, Inc. will post 40.69 earnings per share for the current year.

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.