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

Key Points

• Lombard Odier Asset Management Europe Ltd opened a new position in MercadoLibre during the first quarter, buying 2,623 shares valued at about $4.54 million.
• MercadoLibre reported Q1 revenue of $8.85 billion, up 49% year over year, but EPS of $8.23 came in below Wall Street expectations of $8.75.
• Analyst sentiment remains generally positive, with a Moderate Buy consensus and an average price target of $2,258.67, even as some firms trimmed their targets.

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,623 shares of the company's stock, valued at approximately $4,535,000.

A number of other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors increased its position in MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock worth $4,481,812,000 after purchasing an additional 408,939 shares during the last quarter. Norges Bank acquired a new stake in shares of MercadoLibre during the 4th quarter valued at about $597,045,000. Marshall Wace LLP grew its stake in shares of MercadoLibre by 184.8% in the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company's stock valued at $628,083,000 after buying an additional 202,322 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company's stock valued at $7,012,773,000 after buying an additional 164,120 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in MercadoLibre by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,583,071 shares of the company's stock worth $3,188,718,000 after buying an additional 137,100 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Up 0.2%

Shares of MELI stock opened at $1,801.44 on Friday. The stock'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 debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company has a market capitalization of $91.33 billion, a price-to-earnings ratio of 47.54, a PEG ratio of 1.11 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced 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). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the business earned $9.74 EPS. The company's revenue for the quarter was up 49.0% on a year-over-year basis. As a group, research analysts predict that MercadoLibre, Inc. will post 41 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MELI. UBS Group cut their price objective on shares of 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. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research report on Friday, May 8th. Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 21st. BTIG Research restated a "buy" rating and set a $2,150.00 price target on shares of MercadoLibre in a report on Tuesday, June 2nd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of MercadoLibre in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, MercadoLibre has an average rating of "Moderate Buy" and a consensus target price of $2,258.67.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the business's stock in a transaction on Friday, May 22nd. The stock was purchased at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

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.

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