Oppenheimer & Co. Inc. Increases Position in MercadoLibre, Inc. (NASDAQ:MELI)

Oppenheimer & Co. Inc. increased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 11.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,369 shares of the company's stock after acquiring an additional 143 shares during the period. Oppenheimer & Co. Inc.'s holdings in MercadoLibre were worth $2,328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MELI. Public Employees Retirement System of Ohio purchased a new position in shares of MercadoLibre in the 3rd quarter valued at about $114,417,000. Principal Financial Group Inc. lifted its stake in MercadoLibre by 20.9% in the third quarter. Principal Financial Group Inc. now owns 59,430 shares of the company's stock worth $121,948,000 after acquiring an additional 10,272 shares during the last quarter. KBC Group NV grew its holdings in MercadoLibre by 205.5% during the 3rd quarter. KBC Group NV now owns 26,279 shares of the company's stock worth $53,923,000 after acquiring an additional 17,677 shares in the last quarter. Nordea Investment Management AB increased its position in shares of MercadoLibre by 37.8% in the 4th quarter. Nordea Investment Management AB now owns 157,688 shares of the company's stock valued at $271,897,000 after purchasing an additional 43,215 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in shares of MercadoLibre by 40.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,728 shares of the company's stock valued at $5,598,000 after purchasing an additional 780 shares in the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Stock Performance

Shares of MELI stock traded down $51.46 during midday trading on Monday, hitting $2,070.41. The company had a trading volume of 358,597 shares, compared to its average volume of 384,905. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.25 and a quick ratio of 1.22. The company's 50 day simple moving average is $1,909.95 and its 200 day simple moving average is $1,967.66. The stock has a market cap of $104.96 billion, a price-to-earnings ratio of 54.92, a PEG ratio of 1.12 and a beta of 1.62.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.21 by $2.40. The company had revenue of $6.06 billion for the quarter, compared to analysts' expectations of $5.94 billion. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. Research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MELI has been the subject of a number of analyst reports. Wedbush lowered their target price on shares of MercadoLibre from $2,200.00 to $2,100.00 and set an "outperform" rating for the company in a research note on Monday, January 6th. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,400.00 to $2,750.00 and gave the stock a "buy" rating in a research report on Monday. Morgan Stanley cut their target price on MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. Susquehanna upped their price target on MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a report on Friday, February 21st. Finally, Citigroup cut their price objective on shares of MercadoLibre from $2,480.00 to $2,450.00 and set a "buy" rating on the stock in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, MercadoLibre currently has a consensus rating of "Buy" and an average price target of $2,402.81.

MercadoLibre Profile

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.