OppenheimerFunds Inc. lifted its stake in shares of Mercadolibre Inc (NASDAQ:MELI) by 310.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 487,664 shares of the company’s stock after buying an additional 368,989 shares during the quarter. OppenheimerFunds Inc.’s holdings in Mercadolibre were worth $145,778,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MELI. Daiwa Securities Group Inc. grew its position in shares of Mercadolibre by 109.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,683 shares of the company’s stock worth $956,000 after buying an additional 1,403 shares during the period. SG Americas Securities LLC grew its position in shares of Mercadolibre by 59.7% during the 1st quarter. SG Americas Securities LLC now owns 3,338 shares of the company’s stock worth $1,190,000 after buying an additional 1,248 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Mercadolibre by 57.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 3,870 shares of the company’s stock worth $1,412,000 after buying an additional 1,414 shares during the period. M&T Bank Corp grew its position in shares of Mercadolibre by 87.9% during the 1st quarter. M&T Bank Corp now owns 1,240 shares of the company’s stock worth $441,000 after buying an additional 580 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Mercadolibre during the 1st quarter worth approximately $316,000. 95.26% of the stock is owned by institutional investors.

NASDAQ MELI opened at $320.76 on Friday. Mercadolibre Inc has a 12-month low of $217.06 and a 12-month high of $417.91. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market capitalization of $14.48 billion, a P/E ratio of 126.78 and a beta of 2.06.

Mercadolibre (NASDAQ:MELI) last posted its quarterly earnings results on Wednesday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.04). The business had revenue of $335.40 million during the quarter, compared to analyst estimates of $333.98 million. Mercadolibre had a negative net margin of 4.39% and a positive return on equity of 4.32%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 EPS. sell-side analysts expect that Mercadolibre Inc will post -0.44 earnings per share for the current year.

Several analysts have recently commented on the stock. BidaskClub raised shares of Mercadolibre from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Zacks Investment Research downgraded shares of Mercadolibre from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th. Stifel Nicolaus reaffirmed a “hold” rating and set a $360.00 price objective (down previously from $405.00) on shares of Mercadolibre in a research report on Thursday, May 10th. Barclays raised their price objective on shares of Mercadolibre from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 17th. Finally, ValuEngine downgraded shares of Mercadolibre from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Three research analysts have rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Mercadolibre has a consensus rating of “Hold” and an average target price of $356.92.

In other news, Director Meyer Malka acquired 16,518 shares of the business’s stock in a transaction on Thursday, June 14th. The shares were purchased at an average cost of $301.39 per share, with a total value of $4,978,360.02. Following the acquisition, the director now directly owns 1,708 shares of the company’s stock, valued at $514,774.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.32% of the stock is owned by insiders.

About Mercadolibre

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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Institutional Ownership by Quarter for Mercadolibre (NASDAQ:MELI)

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