Public Employees Retirement System of Ohio Sells 2,546 Shares of MercadoLibre, Inc. $MELI

Key Points

• Public Employees Retirement System of Ohio cut its MercadoLibre stake by 5.8% in the first quarter, selling 2,546 shares and ending with 41,057 shares valued at about $70.99 million.
• Insider buying was noted when Director Alejandro Nicolas Aguzin purchased 600 shares for roughly $993,558, increasing his holdings by 12.62%.
• MercadoLibre’s latest earnings topped revenue estimates at $8.85 billion but missed EPS expectations, while analysts still largely rate the stock a Moderate Buy with an average price target of $2,258.67.

Public Employees Retirement System of Ohio reduced its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) by 5.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,057 shares of the company's stock after selling 2,546 shares during the quarter. Public Employees Retirement System of Ohio owned 0.08% of MercadoLibre worth $70,988,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in MercadoLibre in the 2nd quarter valued at about $29,000. Laurel Wealth Advisors LLC bought a new stake in MercadoLibre during the 4th quarter worth approximately $26,000. Transamerica Financial Advisors LLC purchased a new stake in shares of MercadoLibre in the fourth quarter worth approximately $26,000. Purpose Unlimited Inc. purchased a new stake in shares of MercadoLibre in the fourth quarter worth approximately $28,000. Finally, Curio Wealth LLC bought a new position in shares of MercadoLibre in the fourth quarter valued at approximately $30,000. 87.62% of the stock is owned by institutional investors.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the purchase, the director directly owned 5,355 shares of the company's stock, valued at approximately $8,867,505.15. This trade represents a 12.62% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

MercadoLibre Stock Performance

MELI stock opened at $1,798.70 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63. The firm has a market cap of $91.19 billion, a PE ratio of 47.47, a P/E/G ratio of 1.11 and a beta of 1.35. The business has a 50 day moving average of $1,700.85 and a 200-day moving average of $1,815.91. MercadoLibre, Inc. has a 12-month low of $1,495.00 and a 12-month high of $2,548.50.

MercadoLibre (NASDAQ:MELI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts' consensus estimates 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 quarter last year, the business posted $9.74 earnings per share. The business's revenue was up 49.0% compared to the same quarter last year. As a group, sell-side analysts expect that MercadoLibre, Inc. will post 41 earnings per share for the current year.

Analysts Set New Price Targets

MELI has been the topic of several analyst reports. Morgan Stanley cut their target price on MercadoLibre from $2,600.00 to $2,450.00 and set an "overweight" rating on the stock in a research report on Monday, May 11th. Weiss Ratings reissued a "hold (c)" rating on shares of MercadoLibre in a research report on Thursday, July 2nd. Benchmark dropped their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Cantor Fitzgerald cut their price objective on shares of MercadoLibre from $2,400.00 to $2,350.00 and set an "overweight" rating on the stock in a report on Tuesday, April 21st. Finally, Barclays reduced their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an "overweight" rating for the company in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $2,258.67.

MercadoLibre 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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