Commonwealth of Pennsylvania Public School Empls Retrmt SYS Purchases 1,458 Shares of MercadoLibre, Inc. $MELI

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in MercadoLibre, Inc. (NASDAQ:MELI) by 6.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 24,553 shares of the company’s stock after purchasing an additional 1,458 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in MercadoLibre were worth $42,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in shares of MercadoLibre by 22.5% in the fourth quarter. Capital Research Global Investors now owns 2,225,031 shares of the company’s stock valued at $4,481,812,000 after acquiring an additional 408,939 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in MercadoLibre by 803.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock worth $671,665,000 after purchasing an additional 296,543 shares in the last quarter. Norges Bank bought a new stake in MercadoLibre in the 4th quarter valued at about $597,045,000. Marshall Wace LLP grew its position in shares of MercadoLibre by 184.8% during the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock worth $628,083,000 after purchasing an additional 202,322 shares in the last quarter. Finally, Baillie Gifford & Co. grew its position in shares of MercadoLibre by 4.9% during the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after purchasing an additional 164,120 shares in the last quarter. Institutional investors own 87.62% of the company’s stock.

Insider Activity at MercadoLibre

In other news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the acquisition, the director directly owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Zacks Research downgraded shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. lowered their price objective on MercadoLibre from $2,100.00 to $1,900.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Daiwa Securities Group downgraded MercadoLibre from a “buy” rating to a “hold” rating and set a $1,800.00 target price for the company. in a research report on Friday, May 8th. BTIG Research reissued a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of MercadoLibre in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre Price Performance

Shares of MELI traded up $44.39 during mid-day trading on Friday, reaching $1,852.22. The company had a trading volume of 406,269 shares, compared to its average volume of 405,449. The company has a market capitalization of $93.91 billion, a price-to-earnings ratio of 48.88, a P/E/G ratio of 1.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16. The company’s 50 day simple moving average is $1,675.89 and its 200 day simple moving average is $1,827.82. MercadoLibre, Inc. has a 1-year low of $1,495.00 and a 1-year high of $2,548.50.

MercadoLibre (NASDAQ:MELI) last issued its quarterly earnings data on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing the consensus estimate of $8.75 by ($0.52). MercadoLibre had a net margin of 6.04% and a return on equity of 29.58%. The company had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the previous year, the company earned $9.74 EPS. MercadoLibre’s revenue for the quarter was up 49.0% on a year-over-year basis. Analysts expect that MercadoLibre, Inc. will post 40.97 EPS for the current year.

MercadoLibre Company 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.