Lombard Odier Asset Management Europe Ltd Invests $6.66 Million in MercadoLibre, Inc. $MELI

Key Points

• Lombard Odier Asset Management Europe initiated a $6.66 million position in MercadoLibre by purchasing 3,926 shares during the second quarter. Institutional investors and hedge funds collectively own 87.62% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $2,272. Eleven analysts rate the stock Buy, while six recommend Hold.
• MercadoLibre reported quarterly EPS of $9.19, exceeding estimates of $8.65, while revenue rose 49.8% year over year to $10.17 billion. The stock opened at $1,966.25, with a market capitalization of approximately $99.69 billion.

Lombard Odier Asset Management Europe Ltd bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,926 shares of the company's stock, valued at approximately $6,664,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MELI. Capital Research Global Investors boosted its holdings in shares of MercadoLibre by 22.5% during the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock worth $4,481,812,000 after acquiring an additional 408,939 shares during the period. Capital International Investors grew its position in shares of MercadoLibre by 7.3% in the fourth quarter. Capital International Investors now owns 1,725,125 shares of the company's stock valued at $3,474,880,000 after purchasing an additional 118,018 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of 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 valued at $3,188,718,000 after purchasing an additional 137,100 shares during the last quarter. BlackRock Inc. bought a new position in shares of MercadoLibre during the second quarter worth approximately $2,246,015,000. Finally, Janus Henderson Group PLC increased its stake in shares of MercadoLibre by 1.7% during the first quarter. Janus Henderson Group PLC now owns 614,238 shares of the company's stock worth $1,062,019,000 after purchasing an additional 10,142 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MELI. Benchmark reduced their price target on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Zacks Research upgraded MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Morgan Stanley dropped 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. BTIG Research reissued a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a research report on Thursday, August 6th. Finally, Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $2,272.00.

MercadoLibre Stock Up 1.8%

NASDAQ MELI opened at $1,966.25 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. The company has a market cap of $99.69 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 1.32 and a beta of 1.34. The company has a 50 day moving average of $1,824.45 and a 200-day moving average of $1,772.36. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (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 the consensus estimate of $9.79 billion. During the same quarter in the prior year, the business posted $10.31 earnings per share. The firm's quarterly revenue was up 49.8% compared to the same quarter last year. On average, equities research analysts expect that MercadoLibre, Inc. will post 39.11 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source