Opinicus Capital Inc. Takes $248,000 Position in MercadoLibre, Inc. $MELI

Opinicus Capital Inc. purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 95 shares of the company’s stock, valued at approximately $248,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Bison Wealth LLC bought a new stake in MercadoLibre during the 4th quarter valued at $206,000. CWM LLC boosted its stake in MercadoLibre by 10.7% during the 1st quarter. CWM LLC now owns 913 shares of the company’s stock valued at $1,781,000 after purchasing an additional 88 shares during the last quarter. Signaturefd LLC increased its holdings in MercadoLibre by 24.2% during the 1st quarter. Signaturefd LLC now owns 257 shares of the company’s stock worth $502,000 after purchasing an additional 50 shares in the last quarter. Larson Financial Group LLC grew its holdings in MercadoLibre by 1,887.5% during the first quarter. Larson Financial Group LLC now owns 159 shares of the company’s stock worth $310,000 after buying an additional 151 shares in the last quarter. Finally, Bridgewater Advisors Inc. bought a new position in MercadoLibre during the 1st quarter valued at $199,000. Institutional investors and hedge funds own 87.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MELI shares. Scotiabank initiated coverage on shares of MercadoLibre in a research report on Monday, July 28th. They set a “sector outperform” rating and a $3,500.00 price target on the stock. Wedbush boosted their target price on MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on MercadoLibre from $2,600.00 to $2,650.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. Finally, Barclays lifted their target price on MercadoLibre from $2,800.00 to $2,900.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2,854.71.

MercadoLibre Price Performance

Shares of NASDAQ MELI opened at $2,048.89 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.20 and a debt-to-equity ratio of 0.61. The stock’s 50-day simple moving average is $2,256.65 and its two-hundred day simple moving average is $2,372.07. The firm has a market capitalization of $103.87 billion, a P/E ratio of 50.00, a P/E/G ratio of 1.56 and a beta of 1.51. MercadoLibre, Inc. has a twelve month low of $1,646.00 and a twelve month high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The firm had revenue of $7.41 billion during the quarter, compared to the consensus estimate of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm’s revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the company earned $7.83 EPS. As a group, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

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.