Ritholtz Wealth Management Buys 255 Shares of MercadoLibre, Inc. (NASDAQ:MELI)

Ritholtz Wealth Management grew its position in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 148.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 427 shares of the company's stock after purchasing an additional 255 shares during the quarter. Ritholtz Wealth Management's holdings in MercadoLibre were worth $833,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Bank Pictet & Cie Europe AG bought a new position in MercadoLibre in the 4th quarter worth $561,000. Rhumbline Advisers grew its position in shares of MercadoLibre by 3.9% in the fourth quarter. Rhumbline Advisers now owns 9,928 shares of the company's stock valued at $16,882,000 after purchasing an additional 377 shares during the last quarter. Allworth Financial LP increased its stake in shares of MercadoLibre by 102.7% in the fourth quarter. Allworth Financial LP now owns 687 shares of the company's stock worth $1,250,000 after purchasing an additional 348 shares during the period. Truist Financial Corp lifted its position in shares of MercadoLibre by 0.8% during the 4th quarter. Truist Financial Corp now owns 5,997 shares of the company's stock worth $10,198,000 after purchasing an additional 50 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of MercadoLibre by 1.6% during the 4th quarter. D.A. Davidson & CO. now owns 2,716 shares of the company's stock worth $4,618,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of MercadoLibre stock opened at $2,402.75 on Thursday. The firm has a market cap of $121.82 billion, a P/E ratio of 59.09, a price-to-earnings-growth ratio of 1.33 and a beta of 1.51. The firm's 50-day simple moving average is $2,370.14 and its 200-day simple moving average is $2,082.46. MercadoLibre, Inc. has a twelve month low of $1,563.21 and a twelve month high of $2,635.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.18 and a current ratio of 1.20.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $9.74 EPS for the quarter, topping analysts' consensus estimates of $7.82 by $1.92. MercadoLibre had a net margin of 9.21% and a return on equity of 48.46%. The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $5.55 billion. During the same quarter last year, the company earned $6.78 earnings per share. The company's revenue for the quarter was up 37.0% compared to the same quarter last year. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley reaffirmed an "overweight" rating on shares of MercadoLibre in a report on Thursday, May 1st. Barclays increased their price objective on MercadoLibre from $2,500.00 to $3,100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Citigroup restated a "buy" rating on shares of MercadoLibre in a research note on Friday, June 6th. Susquehanna upped their target price on shares of MercadoLibre from $2,350.00 to $2,760.00 and gave the company a "positive" rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their price target on shares of MercadoLibre from $2,250.00 to $2,600.00 and gave the company a "neutral" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $2,632.50.

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.

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