Oak Associates Ltd. OH Takes $1.97 Million Position in MercadoLibre, Inc. (NASDAQ:MELI)

Oak Associates Ltd. OH bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,200 shares of the company’s stock, valued at approximately $1,972,000.

A number of other institutional investors have also made changes to their positions in the business. Amalgamated Bank boosted its position in MercadoLibre by 22.2% during the fourth quarter. Amalgamated Bank now owns 55 shares of the company’s stock worth $86,000 after purchasing an additional 10 shares during the period. Private Advisor Group LLC grew its stake in MercadoLibre by 33.2% in the 4th quarter. Private Advisor Group LLC now owns 530 shares of the company’s stock valued at $833,000 after buying an additional 132 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in MercadoLibre by 40.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 513 shares of the company’s stock valued at $861,000 after acquiring an additional 149 shares during the period. Principal Securities Inc. acquired a new stake in MercadoLibre during the fourth quarter worth approximately $242,000. Finally, QRG Capital Management Inc. bought a new stake in shares of MercadoLibre during the fourth quarter worth approximately $223,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MELI. 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 note on Wednesday, August 28th. New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a report on Friday, May 24th. Barclays boosted their target price on shares of MercadoLibre from $2,000.00 to $2,100.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and raised their price target for the stock from $1,400.00 to $2,100.00 in a research report on Monday, May 20th. Finally, Bank of America boosted their price objective on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,182.92.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,122.37 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $107.60 billion, a PE ratio of 94.96, a PEG ratio of 1.33 and a beta of 1.61. The firm has a 50 day moving average of $1,860.84 and a 200-day moving average of $1,673.21. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,143.96.

MercadoLibre (NASDAQ:MELI) last released its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share for the quarter, topping the consensus estimate of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the company earned $5.16 earnings per share. The company’s quarterly revenue was up 41.5% on a year-over-year basis. On average, equities research analysts predict that MercadoLibre, Inc. will post 35.22 EPS for the current fiscal year.

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.