Louisiana State Employees Retirement System Takes $5.71 Million Position in MercadoLibre, Inc. $MELI

Louisiana State Employees Retirement System acquired a new position in MercadoLibre, Inc. (NASDAQ:MELI) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,300 shares of the company’s stock, valued at approximately $5,706,000.

Other large investors have also recently modified their holdings of the company. Darwin Wealth Management LLC purchased a new stake in MercadoLibre during the second quarter valued at approximately $29,000. Laurel Wealth Advisors LLC purchased a new position in MercadoLibre in the fourth quarter worth $26,000. Transamerica Financial Advisors LLC purchased a new position in MercadoLibre in the fourth quarter worth $26,000. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre during the fourth quarter worth $28,000. Finally, Curio Wealth LLC acquired a new position in shares of MercadoLibre during the fourth quarter worth $30,000. Institutional investors own 87.62% of the company’s stock.

Insider Buying and Selling at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of MercadoLibre stock in a transaction dated Friday, May 22nd. The stock was purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the purchase, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. This trade represents a 12.62% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

MercadoLibre Trading Up 3.4%

NASDAQ:MELI opened at $1,675.10 on Friday. The company has a market capitalization of $84.93 billion, a P/E ratio of 44.21, a PEG ratio of 1.00 and a beta of 1.36. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.63. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,645.22. The firm has a fifty day simple moving average of $1,687.25 and a 200-day simple moving average of $1,843.28.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (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 firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same quarter last year, the business earned $9.74 EPS. The business’s revenue was up 49.0% on a year-over-year basis. On average, equities research analysts anticipate that MercadoLibre, Inc. will post 40.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MELI shares. Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. UBS Group reduced their target price on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Cantor Fitzgerald decreased their price target on MercadoLibre from $2,400.00 to $2,350.00 and set an “overweight” rating for the company in a research note on Tuesday, April 21st. Barclays lowered their price target on MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Finally, Benchmark dropped their price target 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

About MercadoLibre

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.