MercadoLibre, Inc. $MELI is Oddo BHF Asset Management Sas’ 8th Largest Position

Oddo BHF Asset Management Sas raised its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 27.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,502 shares of the company’s stock after purchasing an additional 4,450 shares during the period. MercadoLibre accounts for approximately 1.4% of Oddo BHF Asset Management Sas’ portfolio, making the stock its 8th largest holding. Oddo BHF Asset Management Sas’ holdings in MercadoLibre were worth $35,448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Arkadios Wealth Advisors raised its position in shares of MercadoLibre by 113.2% during the 1st quarter. Arkadios Wealth Advisors now owns 1,051 shares of the company’s stock worth $1,817,000 after purchasing an additional 558 shares during the last quarter. Opal Capital LLC grew its holdings in MercadoLibre by 1,228.1% during the 1st quarter. Opal Capital LLC now owns 2,975 shares of the company’s stock valued at $5,144,000 after buying an additional 2,751 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in MercadoLibre by 25.6% during the 1st quarter. Sunbelt Securities Inc. now owns 388 shares of the company’s stock valued at $671,000 after buying an additional 79 shares during the last quarter. Amundi increased its position in MercadoLibre by 2.0% during the first quarter. Amundi now owns 177,096 shares of the company’s stock worth $306,203,000 after buying an additional 3,520 shares in the last quarter. Finally, Parvin Asset Management LLC increased its position in MercadoLibre by 18.5% during the first quarter. Parvin Asset Management LLC now owns 596 shares of the company’s stock worth $1,030,000 after buying an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the purchase, the director directly owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. This represents a 12.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. BTIG Research reiterated a “buy” rating and set a $2,150.00 price objective on shares of MercadoLibre in a research report on Tuesday, June 2nd. Citigroup boosted their target price on shares of MercadoLibre from $1,950.00 to $2,000.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Barclays reduced their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating on the stock in a report on Monday, May 11th. Finally, Morgan Stanley decreased their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. One 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 company. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,258.67.

MercadoLibre Trading Up 0.0%

Shares of MELI stock opened at $1,863.31 on Thursday. The firm’s 50-day simple moving average is $1,720.22 and its 200-day simple moving average is $1,806.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.16 and a quick ratio of 1.14. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The firm has a market cap of $94.47 billion, a P/E ratio of 49.18, a PEG ratio of 1.15 and a beta of 1.35.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter in the previous year, the firm posted $9.74 earnings per share. MercadoLibre’s revenue for the quarter was up 49.0% compared to the same quarter last year. As a group, equities analysts forecast that MercadoLibre, Inc. will post 41 EPS for the current year.

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.