E. Ohman J or Asset Management AB Has $9.91 Million Stock Holdings in MercadoLibre, Inc. $MELI

E. Ohman J or Asset Management AB raised its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 115.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,920 shares of the company’s stock after purchasing an additional 2,635 shares during the period. E. Ohman J or Asset Management AB’s holdings in MercadoLibre were worth $9,910,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MELI. Darwin Wealth Management LLC bought a new position in MercadoLibre in the 2nd quarter valued at about $29,000. Holos Integrated Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter worth approximately $32,000. Steigerwald Gordon & Koch Inc. acquired a new stake in MercadoLibre during the 3rd quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd bought a new stake in MercadoLibre in the 3rd quarter valued at $35,000. Finally, Cullen Frost Bankers Inc. increased its position in MercadoLibre by 100.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after buying an additional 8 shares during the period. Institutional investors and hedge funds own 87.62% of the company’s stock.

MercadoLibre Trading Up 1.9%

MELI opened at $1,666.08 on Tuesday. The stock has a market capitalization of $84.47 billion, a price-to-earnings ratio of 42.29, a P/E/G ratio of 0.80 and a beta of 1.48. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. MercadoLibre, Inc. has a twelve month low of $1,631.18 and a twelve month high of $2,645.22. The company has a 50-day simple moving average of $1,938.48 and a 200 day simple moving average of $2,083.94.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Tuesday, February 24th. The company reported $11.03 EPS for the quarter, missing the consensus estimate of $11.66 by ($0.63). The firm had revenue of $8.76 billion during the quarter, compared to the consensus estimate of $8.45 billion. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. MercadoLibre’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same period in the prior year, the business earned $12.61 earnings per share. Analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on MELI. UBS Group decreased their price target on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Wedbush decreased their target price on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Weiss Ratings cut shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 8th. Finally, Barclays cut their price target on MercadoLibre from $2,900.00 to $2,600.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $2,708.67.

About MercadoLibre

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.