E. Ohman J or Asset Management AB Has $30.42 Million Stake in MercadoLibre, Inc. $MELI

E. Ohman J or Asset Management AB grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 257.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,596 shares of the company’s stock after acquiring an additional 12,676 shares during the period. E. Ohman J or Asset Management AB’s holdings in MercadoLibre were worth $30,424,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MELI. Rothschild Investment LLC lifted its stake in MercadoLibre by 35.7% in the third quarter. Rothschild Investment LLC now owns 19 shares of the company’s stock valued at $44,000 after buying an additional 5 shares during the period. Interchange Capital Partners LLC grew its position in shares of MercadoLibre by 2.1% during the 4th quarter. Interchange Capital Partners LLC now owns 243 shares of the company’s stock worth $490,000 after buying an additional 5 shares during the period. Cornerstone Select Advisors LLC grew its position in shares of MercadoLibre by 2.9% during the 4th quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company’s stock worth $355,000 after buying an additional 5 shares during the period. Mitchell Capital Management Co. grew its position in shares of MercadoLibre by 0.4% during the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company’s stock worth $2,542,000 after buying an additional 5 shares during the period. Finally, Strategic Advisors LLC increased its stake in shares of MercadoLibre by 0.4% in the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company’s stock valued at $2,564,000 after acquiring an additional 5 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MELI has been the topic of a number of research reports. BTIG Research reiterated a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a research report on Tuesday, June 2nd. Cantor Fitzgerald reduced their price target on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Scotiabank decreased their price target on shares of MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Raymond James Financial set a $2,000.00 price objective on shares of MercadoLibre in a report on Friday, May 8th. Finally, UBS Group reduced their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,255.33.

MercadoLibre Price Performance

MercadoLibre stock opened at $1,635.15 on Friday. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,645.22. The firm has a market capitalization of $82.90 billion, a price-to-earnings ratio of 43.16, a price-to-earnings-growth ratio of 1.01 and a beta of 1.36. The firm’s fifty day moving average price is $1,706.94 and its two-hundred day moving average price is $1,859.91. 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 announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. MercadoLibre’s revenue was up 49.0% compared to the same quarter last year. During the same period in the previous year, the business posted $9.74 EPS. On average, equities research analysts predict that MercadoLibre, Inc. will post 40.97 earnings per share for the current fiscal year.

Insider Buying and Selling at MercadoLibre

In related 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 bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, 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 legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

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.