Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $42.45 Million Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• Institutional ownership increased: Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its MercadoLibre stake by 6.3% in the first quarter, ending with 24,553 shares worth about $42.45 million.
• Analyst sentiment is mixed but mostly positive: MercadoLibre has an average “Moderate Buy” rating, with 11 Buy ratings, one Strong Buy, five Holds, and one Sell. Several firms recently trimmed price targets, including UBS, while BTIG and Raymond James maintained bullish targets.
• Stock and earnings snapshot: MercadoLibre shares rose 2.5% to $1,852.22, and the company recently reported $8.23 EPS on $8.85 billion in revenue, beating revenue estimates but missing earnings expectations. Revenue still grew 49% year over year.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,553 shares of the company's stock after acquiring an additional 1,458 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in MercadoLibre were worth $42,453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its stake in MercadoLibre by 22.5% in the 4th quarter. Capital Research Global Investors now owns 2,225,031 shares of the company's stock valued at $4,481,812,000 after buying an additional 408,939 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in MercadoLibre by 803.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company's stock valued at $671,665,000 after buying an additional 296,543 shares in the last quarter. Norges Bank bought a new stake in MercadoLibre during the fourth quarter worth about $597,045,000. Marshall Wace LLP raised its stake in shares of MercadoLibre by 184.8% in the fourth quarter. Marshall Wace LLP now owns 311,818 shares of the company's stock valued at $628,083,000 after acquiring an additional 202,322 shares during the last quarter. Finally, Baillie Gifford & Co. increased its holdings in MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company's stock valued at $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Institutional investors own 87.62% of the company's stock.

Analysts Set New Price Targets

MELI has been the topic of a number of research analyst reports. Zacks Research lowered shares of MercadoLibre from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 22nd. UBS Group lowered their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating for the company in a research report on Wednesday, May 13th. Raymond James Financial set a $2,000.00 price target on shares of MercadoLibre in a research note on Friday, May 8th. BTIG Research restated a "buy" rating and issued a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. Finally, Morgan Stanley lowered their price target on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $2,255.33.

MercadoLibre Stock Up 2.5%

Shares of MercadoLibre stock traded up $44.39 during trading on Friday, reaching $1,852.22. The stock had a trading volume of 406,269 shares, compared to its average volume of 405,449. The stock has a fifty day moving average price of $1,675.89 and a two-hundred day moving average price of $1,827.82. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50. The company has a market capitalization of $93.91 billion, a price-to-earnings ratio of 48.88, a P/E/G ratio of 1.14 and a beta of 1.35. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The business had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the business earned $9.74 earnings per share. MercadoLibre's revenue was up 49.0% compared to the same quarter last year. Sell-side analysts predict that MercadoLibre, Inc. will post 40.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company's stock.

MercadoLibre Company Profile

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

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