Oppenheimer Asset Management Inc. Sells 225 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Oppenheimer Asset Management Inc. cut its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,384 shares of the company’s stock after selling 225 shares during the period. Oppenheimer Asset Management Inc.’s holdings in MercadoLibre were worth $12,556,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MELI. Planning Capital Management Corp increased its stake in MercadoLibre by 9.1% during the third quarter. Planning Capital Management Corp now owns 60 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares during the last quarter. Mount Lucas Management LP boosted its holdings in shares of MercadoLibre by 3.6% in the 3rd quarter. Mount Lucas Management LP now owns 143 shares of the company’s stock worth $293,000 after purchasing an additional 5 shares during the period. Nvwm LLC increased its position in shares of MercadoLibre by 0.5% during the 4th quarter. Nvwm LLC now owns 1,137 shares of the company’s stock valued at $1,933,000 after purchasing an additional 6 shares during the last quarter. 1620 Investment Advisors Inc. raised its holdings in MercadoLibre by 3.7% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 198 shares of the company’s stock valued at $407,000 after buying an additional 7 shares during the period. Finally, Perigon Wealth Management LLC lifted its position in MercadoLibre by 0.7% in the fourth quarter. Perigon Wealth Management LLC now owns 957 shares of the company’s stock worth $1,758,000 after buying an additional 7 shares during the last quarter. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MELI opened at $2,129.80 on Friday. MercadoLibre, Inc. has a 12-month low of $1,324.99 and a 12-month high of $2,374.54. The business’s fifty day simple moving average is $1,901.92 and its 200-day simple moving average is $1,965.30. The company has a market capitalization of $107.97 billion, a price-to-earnings ratio of 56.49, a PEG ratio of 1.12 and a beta of 1.62. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, February 20th. The company reported $12.61 EPS for the quarter, beating the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.94 billion. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MELI. Morgan Stanley cut their price objective on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Barclays upped their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the company an “overweight” rating in a report on Friday, February 21st. BTIG Research reduced their price objective on shares of MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Cantor Fitzgerald boosted their target price on MercadoLibre from $2,150.00 to $3,000.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Raymond James upgraded MercadoLibre from an “outperform” rating to a “strong-buy” rating and set a $2,250.00 price target on the stock in a report on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $2,385.94.

About MercadoLibre

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.