Oddo BHF Asset Management Sas Acquires 4,450 Shares of MercadoLibre, Inc. $MELI

Oddo BHF Asset Management Sas grew its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 27.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 20,502 shares of the company’s stock after buying an additional 4,450 shares during the period. MercadoLibre accounts for approximately 1.4% of Oddo BHF Asset Management Sas’ portfolio, making the stock its 8th largest position. Oddo BHF Asset Management Sas’ holdings in MercadoLibre were worth $35,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MELI. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre in the fourth quarter valued at approximately $28,000. Darwin Wealth Management LLC purchased a new stake in shares of MercadoLibre during the second quarter worth approximately $29,000. Finally, Curio Wealth LLC purchased a new stake in shares of MercadoLibre during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Trading Up 0.0%

Shares of MELI opened at $1,863.31 on Thursday. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $94.47 billion, a P/E ratio of 49.18, a PEG ratio of 1.15 and a beta of 1.35. The firm’s 50-day moving average is $1,720.22 and its two-hundred day moving average is $1,806.54.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Jefferies Financial Group upgraded shares of MercadoLibre from a “hold” rating to a “buy” rating and cut their price objective for the stock from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. BTIG Research restated a “buy” rating and issued a $2,150.00 target price on shares of MercadoLibre in a research note on Tuesday, June 2nd. Finally, Cantor Fitzgerald lowered their target price on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating on the stock in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,258.67.

Insiders Place Their Bets

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

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.