MercadoLibre, Inc. $MELI Stake Raised by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its position in MercadoLibre, Inc. (NASDAQ:MELI) by 25.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,028 shares of the company’s stock after purchasing an additional 1,237 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in MercadoLibre were worth $15,755,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MELI. Bison Wealth LLC acquired a new stake in shares of MercadoLibre in the 4th quarter valued at approximately $206,000. Brown Advisory Inc. boosted its stake in shares of MercadoLibre by 8.3% in the 1st quarter. Brown Advisory Inc. now owns 678 shares of the company’s stock worth $1,323,000 after buying an additional 52 shares during the last quarter. Greenleaf Trust raised its position in shares of MercadoLibre by 12.1% in the first quarter. Greenleaf Trust now owns 148 shares of the company’s stock valued at $289,000 after purchasing an additional 16 shares during the period. Leavell Investment Management Inc. bought a new position in shares of MercadoLibre in the first quarter worth approximately $224,000. Finally, Xponance Inc. increased its holdings in shares of MercadoLibre by 1.2% in the first quarter. Xponance Inc. now owns 2,563 shares of the company’s stock worth $5,000,000 after buying an additional 30 shares during the period. 87.62% of the stock is owned by institutional investors.

MercadoLibre Stock Down 0.9%

Shares of MELI stock opened at $2,108.60 on Monday. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The stock has a market cap of $106.90 billion, a PE ratio of 51.45, a price-to-earnings-growth ratio of 1.56 and a beta of 1.51. The business’s fifty day moving average is $2,290.36 and its 200-day moving average is $2,379.17.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Wednesday, October 29th. The company reported $8.32 EPS for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). The firm had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. MercadoLibre had a return on equity of 41.35% and a net margin of 7.93%.The company’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.83 EPS. Equities analysts expect that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the topic of several recent research reports. Wedbush increased their price objective on shares of MercadoLibre from $2,700.00 to $2,800.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Susquehanna reduced their price objective on shares of MercadoLibre from $2,975.00 to $2,900.00 and set a “positive” rating for the company in a research note on Monday, October 13th. Benchmark decreased their target price on shares of MercadoLibre from $2,875.00 to $2,780.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of MercadoLibre in a research note on Friday, October 31st. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $2,861.25.

MercadoLibre Company 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.