OMERS ADMINISTRATION Corp Has $4.52 Million Stake in MercadoLibre, Inc. $MELI

OMERS ADMINISTRATION Corp lifted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 11.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,662 shares of the company’s stock after buying an additional 276 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in MercadoLibre were worth $4,518,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MELI. Interchange Capital Partners LLC grew its position in MercadoLibre by 2.1% in the fourth quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after acquiring an additional 5 shares in the last quarter. Cornerstone Select Advisors LLC raised its holdings in shares of MercadoLibre by 2.9% during the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock valued at $355,000 after purchasing an additional 5 shares in the last quarter. Mitchell Capital Management Co. lifted its stake in shares of MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock valued at $2,542,000 after purchasing an additional 5 shares during the last quarter. Strategic Advisors LLC lifted its stake in shares of MercadoLibre by 0.4% in the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after purchasing an additional 5 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC boosted its holdings in MercadoLibre by 2.0% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company’s stock worth $605,000 after purchasing an additional 5 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Raymond James Financial set a $2,000.00 target price on MercadoLibre in a report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. The Goldman Sachs Group set a $2,100.00 price objective on MercadoLibre in a report on Wednesday, May 13th. Citigroup raised their price objective on MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Morgan Stanley reduced their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MercadoLibre has an average rating of “Moderate Buy” and an average price target of $2,272.00.

MercadoLibre Stock Up 2.5%

MELI stock opened at $1,997.00 on Wednesday. The stock has a market capitalization of $101.25 billion, a price-to-earnings ratio of 54.31, a price-to-earnings-growth ratio of 1.33 and a beta of 1.34. The company has a 50-day moving average of $1,805.54 and a two-hundred day moving average of $1,771.87. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.79 billion. During the same period in the previous year, the company posted $10.31 earnings per share. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 39.11 EPS for the current 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.