Lombard Odier Asset Management Europe Ltd Invests $4.54 Million in MercadoLibre, Inc. $MELI

Lombard Odier Asset Management Europe Ltd acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELIFree Report) in the 1st quarter, Holdings Channel reports. The firm acquired 2,623 shares of the company’s stock, valued at approximately $4,535,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bison Wealth LLC acquired a new stake in MercadoLibre in the 4th quarter worth $206,000. Empowered Funds LLC raised its position in shares of MercadoLibre by 6.9% during the first quarter. Empowered Funds LLC now owns 760 shares of the company’s stock valued at $1,483,000 after buying an additional 49 shares during the last quarter. Focus Partners Wealth raised its position in shares of MercadoLibre by 42.0% during the first quarter. Focus Partners Wealth now owns 602 shares of the company’s stock valued at $1,176,000 after buying an additional 178 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of MercadoLibre during the second quarter valued at about $261,000. Finally, Gamco Investors INC. ET AL lifted its stake in shares of MercadoLibre by 21.4% in the second quarter. Gamco Investors INC. ET AL now owns 170 shares of the company’s stock valued at $444,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director owned 5,355 shares in the company, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MELI shares. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a report on Thursday, July 2nd. JPMorgan Chase & Co. reduced their price objective on 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. BTIG Research reissued a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a report on Tuesday, June 2nd. Finally, UBS Group lowered their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.

Read Our Latest Report on MercadoLibre

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,801.44 on Friday. The stock has a market cap of $91.33 billion, a P/E ratio of 47.54, a PEG ratio of 1.11 and a beta of 1.35. The company’s 50-day simple moving average is $1,705.94 and its 200 day simple moving average is $1,815.81. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELIGet Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same period last year, the company earned $9.74 EPS. As a group, research analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current fiscal year.

About MercadoLibre

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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