Ameritas Advisory Services LLC Acquires 20 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Ameritas Advisory Services LLC grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 413 shares of the company’s stock after acquiring an additional 20 shares during the quarter. Ameritas Advisory Services LLC’s holdings in MercadoLibre were worth $679,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. GQG Partners LLC increased its position in shares of MercadoLibre by 442.2% during the 1st quarter. GQG Partners LLC now owns 794,782 shares of the company’s stock valued at $1,201,679,000 after purchasing an additional 648,198 shares during the last quarter. Norges Bank bought a new stake in shares of MercadoLibre in the 4th quarter worth approximately $554,386,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of MercadoLibre by 43.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 771,893 shares of the company’s stock worth $1,167,073,000 after acquiring an additional 232,787 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of MercadoLibre by 112,333.8% in the 4th quarter. International Assets Investment Management LLC now owns 146,164 shares of the company’s stock valued at $229,703,000 after purchasing an additional 146,034 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in MercadoLibre by 55.8% during the 1st quarter. Janus Henderson Group PLC now owns 368,559 shares of the company’s stock worth $557,225,000 after acquiring an additional 132,028 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Performance

Shares of MercadoLibre stock traded up $24.86 during trading on Friday, hitting $2,040.65. 137,173 shares of the company’s stock traded hands, compared to its average volume of 361,452. MercadoLibre, Inc. has a 1 year low of $1,141.04 and a 1 year high of $2,061.78. The business has a 50-day simple moving average of $1,759.41 and a 200-day simple moving average of $1,646.20. The stock has a market capitalization of $103.45 billion, a P/E ratio of 90.19, a PEG ratio of 1.13 and a beta of 1.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 1.25.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.64 billion. MercadoLibre had a net margin of 8.03% and a return on equity of 45.61%. The business’s quarterly revenue was up 41.5% compared to the same quarter last year. During the same quarter last year, the firm posted $5.16 EPS. As a group, analysts forecast that MercadoLibre, Inc. will post 33.4 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MELI shares. New Street Research cut MercadoLibre from a “buy” rating to a “neutral” rating in a research note on Friday, May 24th. Susquehanna lifted their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a report on Wednesday. BTIG Research upped their price objective on shares of MercadoLibre from $2,025.00 to $2,250.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Wedbush reaffirmed an “outperform” rating and set a $1,800.00 target price on shares of MercadoLibre in a research note on Friday, May 3rd. Finally, Citigroup boosted their price target on shares of MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MercadoLibre has a consensus rating of “Moderate Buy” and an average price target of $2,067.92.

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.