Oliver Lagore Vanvalin Investment Group Purchases New Stake in MercadoLibre, Inc. $MELI

Key Points

• Oliver Lagore Vanvalin Investment Group acquired 1,195 shares of MercadoLibre, Inc. (NASDAQ:MELI), valued at approximately $3.12 million, making it the firm's 24th largest holding.
• The company's stock price has increased 1.2% recently, currently trading at about $2,476.37, with a P/E ratio of 61.16.
• MercadoLibre's latest quarterly earnings report revealed an EPS of $10.31, missing estimates but showing a year-over-year revenue increase of 33.8%.

Oliver Lagore Vanvalin Investment Group acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,195 shares of the company's stock, valued at approximately $3,123,000. MercadoLibre comprises 1.1% of Oliver Lagore Vanvalin Investment Group's portfolio, making the stock its 24th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in MELI. Optimize Financial Inc increased its position in shares of MercadoLibre by 1.7% in the 1st quarter. Optimize Financial Inc now owns 238 shares of the company's stock valued at $464,000 after purchasing an additional 4 shares during the last quarter. Formidable Asset Management LLC boosted its stake in MercadoLibre by 3.2% during the 4th quarter. Formidable Asset Management LLC now owns 160 shares of the company's stock worth $272,000 after purchasing an additional 5 shares during the period. Revolve Wealth Partners LLC boosted its stake in MercadoLibre by 4.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 118 shares of the company's stock worth $201,000 after purchasing an additional 5 shares during the period. Sonora Investment Management Group LLC boosted its stake in MercadoLibre by 3.1% during the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company's stock worth $328,000 after purchasing an additional 5 shares during the period. Finally, Beacon Capital Management LLC boosted its stake in MercadoLibre by 8.3% during the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company's stock worth $127,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MELI shares. Wedbush set a $2,700.00 target price on shares of MercadoLibre and gave the stock an "outperform" rating in a research note on Tuesday, August 5th. Susquehanna restated a "positive" rating and issued a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a research note on Thursday, June 26th. Scotiabank initiated coverage on shares of MercadoLibre in a research note on Monday, July 28th. They issued a "sector outperform" rating and a $3,500.00 target price for the company. Benchmark reiterated a "buy" rating and issued a $2,875.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. Finally, Daiwa Capital Markets initiated coverage on shares of MercadoLibre in a research note on Friday, August 1st. They issued a "buy" rating and a $3,000.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, MercadoLibre presently has an average rating of "Moderate Buy" and a consensus target price of $2,817.22.

MercadoLibre Trading Up 0.3%

Shares of NASDAQ MELI traded up $8.32 during midday trading on Monday, reaching $2,460.66. 270,053 shares of the stock were exchanged, compared to its average volume of 389,994. The company has a market capitalization of $124.76 billion, a P/E ratio of 60.77, a P/E/G ratio of 1.60 and a beta of 1.49. MercadoLibre, Inc. has a 52-week low of $1,646.00 and a 52-week high of $2,645.22. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average price of $2,382.11 and a 200-day moving average price of $2,319.89.

MercadoLibre (NASDAQ:MELI - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion during the quarter, compared to analysts' expectations of $6.57 billion. During the same quarter in the previous year, the firm posted $10.48 earnings per share. MercadoLibre's revenue for the quarter was up 33.8% compared to the same quarter last year. Equities research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

MercadoLibre Company Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.