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

E. Ohman J or Asset Management AB grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 8.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,145 shares of the company’s stock after acquiring an additional 1,549 shares during the period. E. Ohman J or Asset Management AB’s holdings in MercadoLibre were worth $32,497,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Laurel Wealth Advisors LLC acquired a new stake in shares of MercadoLibre during the fourth quarter worth about $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $26,000. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre in the 4th quarter valued at approximately $28,000. Darwin Wealth Management LLC bought a new stake in MercadoLibre during the 2nd quarter worth approximately $29,000. Finally, Curio Wealth LLC bought a new stake in MercadoLibre during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. Cantor Fitzgerald increased their price objective 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. BTIG Research restated a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a report on Thursday, August 6th. Scotiabank cut their price objective on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating on the stock in a research report on Thursday, May 7th. Finally, Citigroup upped their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,255.33.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 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 owned 5,355 shares of the company’s stock, valued at $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Stock Performance

MELI opened at $1,824.34 on Tuesday. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The firm has a market capitalization of $92.49 billion, a PE ratio of 49.61, a PEG ratio of 1.13 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 business’s 50-day simple moving average is $1,749.73 and its 200 day simple moving average is $1,793.59.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share for the quarter, beating analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business’s revenue was up 49.8% compared to the same quarter last year. During the same period last year, the company earned $10.31 earnings per share. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 40.69 earnings per share for the current fiscal year.

MercadoLibre 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.