Lombard Odier Asset Management Europe Ltd Buys Shares of 2,623 MercadoLibre, Inc. $MELI

by · The Markets Daily

Lombard Odier Asset Management Europe Ltd acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,623 shares of the company’s stock, valued at approximately $4,535,000.

Other institutional investors also recently modified their holdings of the company. Capital Research Global Investors boosted its stake in shares of MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after purchasing an additional 408,939 shares in the last quarter. Norges Bank bought a new stake in shares of MercadoLibre during the 4th quarter valued at $597,045,000. Royal Bank of Canada boosted its position in shares of MercadoLibre by 114.2% in the 1st quarter. Royal Bank of Canada now owns 444,603 shares of the company’s stock worth $768,728,000 after purchasing an additional 237,008 shares in the last quarter. Marshall Wace LLP grew its stake in shares of MercadoLibre by 184.8% in the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock worth $628,083,000 after acquiring an additional 202,322 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in shares of MercadoLibre by 4.9% during the fourth quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock valued at $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction on 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 acquisition, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. UBS Group cut their price target on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. 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 report on Wednesday, July 15th. Finally, Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and dropped their price objective for the company from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $2,258.67.

View Our Latest Stock Report on MELI

MercadoLibre Price Performance

MercadoLibre stock opened at $1,877.95 on Monday. The firm has a 50-day moving average price of $1,728.64 and a 200-day moving average price of $1,802.56. The firm has a market capitalization of $95.21 billion, a PE ratio of 49.56, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50.

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

MercadoLibre Profile

(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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