Oppenheimer Asset Management Inc. Increases Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Oppenheimer Asset Management Inc. raised its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 12.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,301 shares of the company's stock after buying an additional 917 shares during the period. Oppenheimer Asset Management Inc.'s holdings in MercadoLibre were worth $16,194,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MELI. Pursue Wealth Partners LLC bought a new position in MercadoLibre in the 1st quarter worth $201,000. Moser Wealth Advisors LLC increased its position in MercadoLibre by 41.2% in the first quarter. Moser Wealth Advisors LLC now owns 24 shares of the company's stock worth $47,000 after buying an additional 7 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in shares of MercadoLibre by 27.0% in the first quarter. Flagship Harbor Advisors LLC now owns 799 shares of the company's stock worth $1,559,000 after buying an additional 170 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of MercadoLibre by 16.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,609 shares of the company's stock valued at $8,992,000 after buying an additional 659 shares in the last quarter. Finally, Atticus Wealth Management LLC bought a new position in shares of MercadoLibre during the 1st quarter valued at approximately $96,000. 87.62% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on MELI. Citigroup restated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Jefferies Financial Group restated a "hold" rating and set a $2,800.00 target price (up previously from $2,450.00) on shares of MercadoLibre in a research note on Thursday, June 5th. JPMorgan Chase & Co. upped their target price on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,900.00 to $2,700.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,645.94.

MercadoLibre Price Performance

Shares of NASDAQ:MELI traded down $0.15 during mid-day trading on Friday, reaching $2,560.05. The stock had a trading volume of 295,723 shares, compared to its average volume of 386,793. The business's 50 day moving average price is $2,422.92 and its 200 day moving average price is $2,104.82. MercadoLibre, Inc. has a 1 year low of $1,563.21 and a 1 year high of $2,635.88. The company has a market cap of $129.79 billion, a P/E ratio of 62.96, a price-to-earnings-growth ratio of 1.51 and a beta of 1.51. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.82 by $1.92. The business had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company's revenue for the quarter was up 37.0% on a year-over-year basis. During the same period in the prior year, the firm earned $6.78 EPS. Research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

MercadoLibre 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.