MercadoLibre, Inc. $MELI Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lifted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 11.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,662 shares of the company’s stock after purchasing an additional 276 shares during the period. OMERS ADMINISTRATION Corp’s holdings in MercadoLibre were worth $4,518,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter worth about $26,000. Purpose Unlimited Inc. purchased a new position in shares of MercadoLibre in the fourth quarter worth approximately $28,000. Darwin Wealth Management LLC acquired a new stake in shares of MercadoLibre during the second quarter valued at approximately $29,000. Finally, Curio Wealth LLC purchased a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $30,000. 87.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MELI has been the subject of a number of recent analyst reports. Barclays decreased their price objective on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Daiwa Securities Group lowered MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a report on Friday, May 8th. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. Finally, Benchmark dropped their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $2,272.00.

MercadoLibre Stock Performance

Shares of MELI opened at $1,997.00 on Wednesday. The company has a market capitalization of $101.25 billion, a PE ratio of 54.31, a PEG ratio of 1.33 and a beta of 1.34. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.10 and a current ratio of 1.12. The company’s 50 day moving average price is $1,805.54 and its 200 day moving average price is $1,771.87. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the firm earned $10.31 EPS. The company’s revenue was up 49.8% compared to the same quarter last year. Research analysts expect that MercadoLibre, Inc. will post 39.11 EPS for the current fiscal year.

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.