VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $10.19 Million Investment in MercadoLibre, Inc. $MELI

Key Points

• The Virginia Retirement Systems has made a new investment of approximately $10.19 million in MercadoLibre, Inc. by acquiring 3,900 shares during the second quarter.
• MercadoLibre's stock has shown a 3.8% increase recently, with current trading at $2,102.11 and a 1-year high of $2,645.22.
• Despite reporting earnings per share of $10.31, MercadoLibre missed analysts' estimates of $12.01, though it did report a year-over-year revenue growth of 33.8%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,900 shares of the company's stock, valued at approximately $10,193,000.

Other large investors have also recently bought and sold shares of the company. Key Financial Inc acquired a new position in MercadoLibre during the 1st quarter worth approximately $25,000. GW&K Investment Management LLC acquired a new position in MercadoLibre during the 1st quarter worth approximately $25,000. Close Asset Management Ltd boosted its position in MercadoLibre by 366.7% during the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company's stock worth $27,000 after acquiring an additional 11 shares during the last quarter. Brooklyn Investment Group boosted its position in MercadoLibre by 650.0% during the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company's stock worth $29,000 after acquiring an additional 13 shares during the last quarter. Finally, Twin Tree Management LP acquired a new position in MercadoLibre during the 1st quarter worth approximately $29,000. Institutional investors and hedge funds own 87.62% of the company's stock.

MercadoLibre Stock Up 3.8%

MELI opened at $2,102.11 on Tuesday. MercadoLibre, Inc. has a 1-year low of $1,646.00 and a 1-year high of $2,645.22. The stock's fifty day simple moving average is $2,332.51 and its 200 day simple moving average is $2,354.26. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The stock has a market cap of $106.57 billion, a PE ratio of 51.92, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46.

MercadoLibre (NASDAQ:MELI - Get Free Report) last posted 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 net margin of 8.52% and a return on equity of 43.06%. The business had revenue of $6.79 billion during the quarter, compared to the consensus estimate of $6.57 billion. During the same quarter last year, the company posted $10.48 EPS. The firm's revenue was up 33.8% on a year-over-year basis. As a group, research analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MELI shares. Jefferies Financial Group reaffirmed a "hold" rating and set a $2,800.00 price target on shares of MercadoLibre in a research report on Tuesday, August 5th. JPMorgan Chase & Co. dropped their price objective on MercadoLibre from $2,700.00 to $2,600.00 and set a "neutral" rating on the stock in a research note on Friday, October 3rd. Scotiabank began coverage on MercadoLibre in a research note on Monday, July 28th. They set a "sector outperform" rating and a $3,500.00 price objective on the stock. Cantor Fitzgerald upped their price objective on MercadoLibre from $2,700.00 to $2,900.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $2,750.00 price objective on shares of MercadoLibre in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $2,810.88.

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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