Oppenheimer Asset Management Inc. Buys 135 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Oppenheimer Asset Management Inc. increased its holdings in MercadoLibre, Inc. (NASDAQ:MELI) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,609 shares of the company’s stock after acquiring an additional 135 shares during the period. Oppenheimer Asset Management Inc.’s holdings in MercadoLibre were worth $15,613,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Belpointe Asset Management LLC grew its holdings in shares of MercadoLibre by 1.0% in the second quarter. Belpointe Asset Management LLC now owns 618 shares of the company’s stock valued at $1,016,000 after acquiring an additional 6 shares in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of MercadoLibre by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 1,472 shares of the company’s stock valued at $2,419,000 after acquiring an additional 6 shares in the last quarter. Evolutionary Tree Capital Management LLC lifted its stake in MercadoLibre by 0.3% in the second quarter. Evolutionary Tree Capital Management LLC now owns 2,071 shares of the company’s stock valued at $3,403,000 after purchasing an additional 6 shares during the last quarter. Strategic Blueprint LLC lifted its stake in MercadoLibre by 0.9% in the third quarter. Strategic Blueprint LLC now owns 658 shares of the company’s stock valued at $1,350,000 after purchasing an additional 6 shares during the last quarter. Finally, Hilltop National Bank lifted its stake in MercadoLibre by 14.3% in the second quarter. Hilltop National Bank now owns 56 shares of the company’s stock valued at $92,000 after purchasing an additional 7 shares during the last quarter. 87.62% of the stock is owned by institutional investors.

MercadoLibre Trading Down 2.3 %

Shares of MELI stock opened at $1,930.95 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. MercadoLibre, Inc. has a 52-week low of $1,324.99 and a 52-week high of $2,161.73. The company has a market capitalization of $97.90 billion, a PE ratio of 68.14, a price-to-earnings-growth ratio of 1.34 and a beta of 1.61. The business’s fifty day moving average is $2,044.19 and its 200 day moving average is $1,836.97.

Wall Street Analyst Weigh In

MELI has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,400.00 to $2,150.00 and set a “neutral” rating on the stock in a research note on Wednesday. The Goldman Sachs Group upped their price objective on MercadoLibre from $2,180.00 to $2,480.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. BTIG Research dropped their price objective on MercadoLibre from $2,250.00 to $2,200.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Cantor Fitzgerald dropped their price objective on MercadoLibre from $2,530.00 to $2,300.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, Susquehanna increased their target price on MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a “positive” rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $2,269.67.

MercadoLibre Profile

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.