Lombard Odier Asset Management Switzerland SA Makes New $3.43 Million Investment in MercadoLibre, Inc. $MELI

Key Points

• Lombard Odier Asset Management acquired 1,983 MercadoLibre shares in the first quarter, representing a new investment valued at approximately $3.43 million. Institutional investors collectively own 87.62% of the company.
• MercadoLibre’s latest quarterly revenue rose 49% year over year to $8.85 billion, exceeding estimates, although earnings per share of $8.23 fell short of the $8.75 consensus.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $2,258.67 versus the reported share price of $1,801.44.

Lombard Odier Asset Management Switzerland SA acquired a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,983 shares of the company's stock, valued at approximately $3,429,000.

Other hedge funds also recently made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new stake in MercadoLibre during the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC acquired a new position in MercadoLibre in the 4th quarter worth $26,000. Purpose Unlimited Inc. purchased a new position in MercadoLibre in the 4th quarter valued at about $28,000. Darwin Wealth Management LLC purchased a new position in MercadoLibre in the 2nd quarter valued at about $29,000. Finally, Curio Wealth LLC acquired a new stake in shares of MercadoLibre during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $1,801.44 on Monday. 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 company has a market capitalization of $91.33 billion, a price-to-earnings ratio of 47.54, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The business has a 50 day simple moving average of $1,705.94 and a 200-day simple moving average of $1,813.47.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $8.23 earnings per share (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 return on equity of 29.58% and a net margin of 6.04%.The business's revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter last year, the business earned $9.74 earnings per share. As a group, equities research analysts expect that MercadoLibre, Inc. will post 41 earnings per share for the current year.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin purchased 600 shares of MercadoLibre stock in a transaction dated 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 transaction, the director owned 5,355 shares in the company, valued at $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

Analyst Ratings Changes

MELI has been the topic of several recent analyst reports. Citigroup boosted their price target on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Morgan Stanley dropped their price objective on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. BTIG Research reaffirmed a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, June 2nd. Jefferies Financial Group upgraded MercadoLibre from a "hold" rating to a "buy" rating and reduced their target price for the company from $2,800.00 to $2,600.00 in a research note on Tuesday, April 7th. Finally, Zacks Research raised shares of MercadoLibre from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $2,258.67.

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.

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.