Public Employees Retirement System of Ohio Has $126.70 Million Stock Holdings in MercadoLibre, Inc. $MELI

Key Points

• The Public Employees Retirement System of Ohio decreased its stake in MercadoLibre, Inc. by 10.2% in Q2, owning 48,476 shares valued at approximately $126.70 million after selling 5,527 shares.
• MercadoLibre reported $10.31 earnings per share, which missed estimates of $12.01, but achieved a revenue of $6.79 billion, surpassing analyst expectations.
• Barclays and Raymond James analysts recently adjusted their price targets for MercadoLibre, with Barclays lowering it to $3,000 and Raymond James setting a target of $2,750.

Public Employees Retirement System of Ohio decreased its stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 10.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 48,476 shares of the company's stock after selling 5,527 shares during the quarter. Public Employees Retirement System of Ohio owned 0.10% of MercadoLibre worth $126,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. James J. Burns & Company LLC purchased a new position in MercadoLibre in the 2nd quarter worth about $309,000. Ballentine Partners LLC increased its stake in MercadoLibre by 7.7% in the 2nd quarter. Ballentine Partners LLC now owns 140 shares of the company's stock worth $366,000 after purchasing an additional 10 shares in the last quarter. Yarbrough Capital LLC increased its stake in MercadoLibre by 29.2% in the 2nd quarter. Yarbrough Capital LLC now owns 4,047 shares of the company's stock worth $10,577,000 after purchasing an additional 915 shares in the last quarter. Sheets Smith Wealth Management increased its stake in MercadoLibre by 29.2% in the 2nd quarter. Sheets Smith Wealth Management now owns 398 shares of the company's stock worth $1,040,000 after purchasing an additional 90 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA increased its stake in MercadoLibre by 7.0% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 2,298 shares of the company's stock worth $6,006,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 87.62% of the company's stock.

MercadoLibre Price Performance

Shares of NASDAQ:MELI opened at $2,494.35 on Wednesday. MercadoLibre, Inc. has a fifty-two week low of $1,646.00 and a fifty-two week high of $2,645.22. The business has a 50-day moving average of $2,385.80 and a two-hundred day moving average of $2,324.24. The stock has a market capitalization of $126.46 billion, a P/E ratio of 61.60, a P/E/G ratio of 1.60 and a beta of 1.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.20 and a quick ratio of 1.18.

MercadoLibre (NASDAQ:MELI - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $10.31 earnings per share for the quarter, missing analysts' consensus estimates of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same period in the prior year, the firm earned $10.48 EPS. MercadoLibre's quarterly revenue was up 33.8% on a year-over-year basis. On average, equities research analysts predict that MercadoLibre, Inc. will post 43.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MELI shares. Barclays dropped their price target on MercadoLibre from $3,100.00 to $3,000.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Raymond James Financial reiterated a "strong-buy" rating and set a $2,750.00 price target on shares of MercadoLibre in a report on Tuesday, August 5th. Daiwa Capital Markets started coverage on MercadoLibre in a report on Friday, August 1st. They set a "buy" rating and a $3,000.00 price target on the stock. Susquehanna reiterated a "positive" rating and set a $2,975.00 price target (up previously from $2,840.00) on shares of MercadoLibre in a report on Thursday, June 26th. Finally, Wall Street Zen downgraded MercadoLibre from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, MercadoLibre currently has an average rating of "Moderate Buy" and a consensus price target of $2,817.22.

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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