OppenheimerFunds Inc. raised its holdings in Mercadolibre Inc (NASDAQ:MELI) by 25.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 613,148 shares of the company’s stock after buying an additional 125,484 shares during the period. OppenheimerFunds Inc.’s holdings in Mercadolibre were worth $208,760,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of MELI. Loomis Sayles & Co. L P boosted its holdings in shares of Mercadolibre by 120.8% in the third quarter. Loomis Sayles & Co. L P now owns 57,166 shares of the company’s stock valued at $19,463,000 after acquiring an additional 31,275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Mercadolibre by 1,049.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,407 shares of the company’s stock valued at $22,609,000 after acquiring an additional 60,631 shares in the last quarter. United Services Automobile Association boosted its holdings in shares of Mercadolibre by 3.9% in the third quarter. United Services Automobile Association now owns 10,663 shares of the company’s stock valued at $3,630,000 after acquiring an additional 402 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Mercadolibre in the third quarter valued at about $2,067,000. Finally, Brown Advisory Inc. purchased a new stake in shares of Mercadolibre in the third quarter valued at about $215,000. 93.38% of the stock is owned by institutional investors.
MELI has been the topic of several analyst reports. Stifel Nicolaus raised shares of Mercadolibre from a “hold” rating to a “buy” rating and set a $380.00 target price on the stock in a report on Tuesday, August 21st. ValuEngine downgraded shares of Mercadolibre from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 11th. BidaskClub raised shares of Mercadolibre from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. BTIG Research initiated coverage on shares of Mercadolibre in a report on Tuesday, November 13th. They issued a “buy” rating and a $395.00 target price on the stock. Finally, Zacks Investment Research raised shares of Mercadolibre from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $362.62.
MELI stock opened at $345.29 on Thursday. The stock has a market cap of $16.04 billion, a P/E ratio of 136.48 and a beta of 2.07. Mercadolibre Inc has a 52 week low of $267.01 and a 52 week high of $417.91. The company has a current ratio of 1.62, a quick ratio of 1.61 and a debt-to-equity ratio of 1.62.
Mercadolibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, November 1st. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.13). The company had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $352.75 million. Mercadolibre had a negative return on equity of 9.47% and a negative net margin of 7.04%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. On average, equities analysts predict that Mercadolibre Inc will post -0.99 earnings per share for the current year.
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Mercadolibre Company Profile
MercadoLibre, Inc hosts online commerce platforms in Latin America. It offers MercadoLibre Marketplace, an automated online commerce service for businesses and individuals to list items and conduct their sales and purchases online in a fixed-price or auction-based format. The company's Marketplace platform enables commerce through online classifieds for motor vehicles, vessels, aircraft, services, and real estate; and Internet users to browse through various products that are listed on its Website and to register with MercadoLibre to list and purchase items and services.
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