Public Employees Retirement System of Ohio acquired a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 44,330 shares of the company's stock, valued at approximately $75,245,000. Public Employees Retirement System of Ohio owned about 0.09% of MercadoLibre as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $26,000. Purpose Unlimited Inc. acquired a new stake in shares of MercadoLibre in the fourth quarter valued at approximately $28,000. Wedbush Fund Advisers LLC bought a new position in MercadoLibre in the 2nd quarter worth approximately $29,000. Finally, Darwin Wealth Management LLC acquired a new position in MercadoLibre during the 2nd quarter worth $29,000. Institutional investors and hedge funds own 87.62% of the company's stock.
Analyst Ratings Changes
MELI has been the subject of a number of recent research reports. Cantor Fitzgerald boosted their target price on MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Benchmark lowered their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a research report on Friday, May 8th. BTIG Research reaffirmed a "buy" rating and issued a $2,150.00 target price on shares of MercadoLibre in a research note on Thursday, August 6th. Finally, UBS Group lowered their price target on shares of 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. Eleven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $2,272.00.
Check Out Our Latest Stock Analysis on MercadoLibre
MercadoLibre Trading Down 1.0%
NASDAQ:MELI opened at $1,930.75 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.53. 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 $97.88 billion, a price-to-earnings ratio of 52.51, a PEG ratio of 1.34 and a beta of 1.34. The business's 50-day moving average price is $1,817.82 and its two-hundred day moving average price is $1,771.00.
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 the consensus estimate of $8.65 by $0.54. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.79 billion. MercadoLibre had a return on equity of 26.54% and a net margin of 5.30%.The company's revenue for the quarter was up 49.8% compared to the same quarter last year. During the same period in the previous year, the company earned $10.31 EPS. On average, equities analysts expect that MercadoLibre, Inc. will post 39.11 earnings per share for the current year.
About MercadoLibre
(
Free Report)
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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