Teacher Retirement System of Texas Purchases 3,742 Shares of MercadoLibre, Inc. $MELI

Teacher Retirement System of Texas boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 8.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 45,698 shares of the company’s stock after acquiring an additional 3,742 shares during the period. MercadoLibre accounts for approximately 0.5% of Teacher Retirement System of Texas’ portfolio, making the stock its 26th largest holding. Teacher Retirement System of Texas owned approximately 0.09% of MercadoLibre worth $119,438,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Key Financial Inc bought a new stake in MercadoLibre in the 1st quarter valued at about $25,000. GW&K Investment Management LLC bought a new stake in MercadoLibre in the 1st quarter valued at about $25,000. Close Asset Management Ltd raised its stake in MercadoLibre by 366.7% in the 1st quarter. Close Asset Management Ltd now owns 14 shares of the company’s stock valued at $27,000 after acquiring an additional 11 shares during the period. Brooklyn Investment Group raised its stake in MercadoLibre by 650.0% in the 1st quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock valued at $29,000 after acquiring an additional 13 shares during the period. Finally, Twin Tree Management LP bought a new stake in MercadoLibre in the 1st quarter valued at about $29,000. 87.62% of the stock is currently owned by institutional investors.

MercadoLibre Stock Up 0.6%

Shares of NASDAQ MELI opened at $2,161.11 on Monday. MercadoLibre, Inc. has a 12 month low of $1,646.00 and a 12 month high of $2,645.22. 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 firm has a market capitalization of $109.56 billion, a price-to-earnings ratio of 53.37, a PEG ratio of 1.47 and a beta of 1.46. The business has a 50-day moving average of $2,315.64 and a 200-day moving average of $2,362.09.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Monday, August 4th. The company reported $10.31 EPS for the quarter, missing the consensus estimate of $12.01 by ($1.70). MercadoLibre had a return on equity of 43.06% and a net margin of 8.52%.The business had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $6.57 billion. During the same period in the previous year, the firm posted $10.48 EPS. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. Sell-side analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MELI. Barclays decreased their price target on MercadoLibre from $3,000.00 to $2,800.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 21st. Cantor Fitzgerald upped their price target on MercadoLibre from $2,700.00 to $2,900.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. decreased their price target on MercadoLibre from $2,700.00 to $2,600.00 and set a “neutral” rating on the stock in a research report on Friday, October 3rd. Daiwa Capital Markets started coverage on MercadoLibre in a research report on Friday, August 1st. They set a “buy” rating and a $3,000.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of MercadoLibre in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $2,799.12.

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.