Opal Capital LLC Raises Holdings in MercadoLibre, Inc. $MELI

Opal Capital LLC boosted its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 1,228.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,975 shares of the company’s stock after acquiring an additional 2,751 shares during the quarter. Opal Capital LLC’s holdings in MercadoLibre were worth $5,144,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Sunbelt Securities Inc. lifted its holdings in shares of MercadoLibre by 25.6% in the 1st quarter. Sunbelt Securities Inc. now owns 388 shares of the company’s stock worth $671,000 after acquiring an additional 79 shares during the last quarter. Amundi increased its holdings in MercadoLibre by 2.0% in the 1st quarter. Amundi now owns 177,096 shares of the company’s stock valued at $306,203,000 after purchasing an additional 3,520 shares during the last quarter. Parvin Asset Management LLC increased its holdings in MercadoLibre by 18.5% in the 1st quarter. Parvin Asset Management LLC now owns 596 shares of the company’s stock valued at $1,030,000 after purchasing an additional 93 shares during the last quarter. Adalta Capital Management LLC raised its position in MercadoLibre by 24.8% in the first quarter. Adalta Capital Management LLC now owns 2,661 shares of the company’s stock valued at $4,601,000 after purchasing an additional 529 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in MercadoLibre by 25.0% in the first quarter. EverSource Wealth Advisors LLC now owns 130 shares of the company’s stock valued at $225,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MELI shares. BTIG Research restated a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. cut their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Citigroup increased their target price on MercadoLibre from $1,950.00 to $2,000.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. UBS Group lowered their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. Finally, Zacks Research raised MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $2,258.67.

MercadoLibre Stock Up 2.4%

Shares of NASDAQ MELI opened at $1,862.52 on Wednesday. The stock has a market cap of $94.43 billion, a P/E ratio of 49.16, a PEG ratio of 1.12 and a beta of 1.35. The business’s fifty day simple moving average is $1,715.97 and its 200-day simple moving average is $1,808.77. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

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

MercadoLibre Profile

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.