Oxbow Advisors LLC Takes $211,000 Position in MercadoLibre, Inc. (NASDAQ:MELI)

Oxbow Advisors LLC bought a new stake in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 108 shares of the company's stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also bought and sold shares of MELI. Park Square Financial Group LLC bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $26,000. Covestor Ltd bought a new stake in MercadoLibre in the fourth quarter valued at $27,000. Heck Capital Advisors LLC purchased a new position in MercadoLibre during the 4th quarter valued at $32,000. VSM Wealth Advisory LLC bought a new position in MercadoLibre in the 4th quarter worth $37,000. Finally, E Fund Management Hong Kong Co. Ltd. lifted its position in shares of MercadoLibre by 375.0% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 19 shares of the company's stock worth $37,000 after purchasing an additional 15 shares during the period. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Price Performance

Shares of MELI opened at $2,387.45 on Monday. MercadoLibre, Inc. has a twelve month low of $1,579.78 and a twelve month high of $2,645.22. The company has a market capitalization of $121.04 billion, a P/E ratio of 58.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.49. The firm has a 50 day moving average of $2,486.03 and a 200 day moving average of $2,164.17. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.57.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.55 billion. MercadoLibre had a return on equity of 48.46% and a net margin of 9.21%. The company's quarterly revenue was up 37.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.78 EPS. As a group, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the topic of several research analyst reports. Benchmark cut shares of MercadoLibre from a "buy" rating to a "cautious" rating in a research report on Thursday, May 1st. Susquehanna reiterated a "positive" rating and set a $2,975.00 target price (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Citigroup reissued a "buy" rating on shares of MercadoLibre in a research report on Friday, June 6th. The Goldman Sachs Group lifted their price target on MercadoLibre from $2,640.00 to $3,000.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a "neutral" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $2,645.94.

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.

Want to see what other hedge funds are holding MELI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MercadoLibre, Inc. (NASDAQ:MELI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.