MercadoLibre, Inc. $MELI Shares Bought by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System reportedly added nearly 119.8 million MercadoLibre shares in the second quarter, bringing its holdings to 119.9 million shares; institutional investors collectively own 87.62% of the stock.
• MercadoLibre exceeded quarterly expectations, reporting $9.19 in EPS versus the $8.65 consensus and $10.17 billion in revenue, up 49.8% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $2,272, compared with the reported share price of $1,978.36.

California State Teachers Retirement System grew its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 176,119.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 119,862,892 shares of the company's stock after purchasing an additional 119,794,873 shares during the quarter. California State Teachers Retirement System owned approximately 236.42% of MercadoLibre worth $203,454,074,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in MELI. Cornerstone Select Advisors LLC lifted its position in MercadoLibre by 2.9% during the fourth quarter. Cornerstone Select Advisors LLC now owns 176 shares of the company's stock worth $355,000 after buying an additional 5 shares during the period. Mitchell Capital Management Co. grew its holdings in MercadoLibre by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 1,262 shares of the company's stock valued at $2,542,000 after buying an additional 5 shares during the period. Strategic Advisors LLC increased its stake in shares of MercadoLibre by 0.4% during the 4th quarter. Strategic Advisors LLC now owns 1,273 shares of the company's stock valued at $2,564,000 after acquiring an additional 5 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its stake in shares of MercadoLibre by 2.0% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 259 shares of the company's stock valued at $605,000 after acquiring an additional 5 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. lifted its holdings in shares of MercadoLibre by 2.7% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 229 shares of the company's stock worth $461,000 after acquiring an additional 6 shares during the period. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Performance

NASDAQ MELI opened at $1,978.36 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.12 and a quick ratio of 1.10. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50. The firm has a market capitalization of $100.30 billion, a P/E ratio of 53.80, a P/E/G ratio of 1.36 and a beta of 1.31. The business's 50-day simple moving average is $1,859.43 and its 200-day simple moving average is $1,769.45.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $9.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.65 by $0.54. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the company earned $10.31 EPS. The company's revenue was up 49.8% on a year-over-year basis. Equities analysts predict that MercadoLibre, Inc. will post 39.11 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. BTIG Research reaffirmed a "buy" rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Thursday. UBS Group cut their price target on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Morgan Stanley decreased their price target on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of MercadoLibre from $1,900.00 to $2,150.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $2,272.00.

About MercadoLibre

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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