Illinois Municipal Retirement Fund boosted its position in MercadoLibre, Inc. (NASDAQ:MELI – Free Report) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,095 shares of the company’s stock after acquiring an additional 532 shares during the period. Illinois Municipal Retirement Fund’s holdings in MercadoLibre were worth $10,538,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Journey Advisory Group LLC bought a new position in shares of MercadoLibre in the 1st quarter valued at about $2,422,000. MASTERINVEST Kapitalanlage GmbH lifted its holdings in MercadoLibre by 15.9% in the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 1,847 shares of the company’s stock valued at $3,194,000 after buying an additional 253 shares during the period. Roberts Glore & Co. Inc. IL lifted its holdings in MercadoLibre by 13.6% in the first quarter. Roberts Glore & Co. Inc. IL now owns 959 shares of the company’s stock valued at $1,658,000 after buying an additional 115 shares during the period. Nwam LLC boosted its stake in MercadoLibre by 1.6% in the first quarter. Nwam LLC now owns 1,626 shares of the company’s stock valued at $2,811,000 after acquiring an additional 26 shares during the last quarter. Finally, Calamos Advisors LLC boosted its stake in MercadoLibre by 128.3% in the first quarter. Calamos Advisors LLC now owns 911 shares of the company’s stock valued at $1,575,000 after acquiring an additional 512 shares during the last quarter. 87.62% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have commented on MELI shares. UBS Group dropped their target price on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Zacks Research upgraded MercadoLibre from a “strong sell” rating to a “hold” rating in a research report on Monday. Scotiabank decreased their price objective on MercadoLibre from $3,500.00 to $2,800.00 and set a “sector outperform” rating for the company in a research note on Thursday, May 7th. Benchmark dropped their price objective on MercadoLibre from $2,780.00 to $2,380.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. cut their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $2,258.67.
MercadoLibre Stock Up 0.8%
Shares of NASDAQ:MELI opened at $1,857.42 on Friday. The company has a 50 day moving average price of $1,678.27 and a two-hundred day moving average price of $1,822.75. 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 has a market capitalization of $94.17 billion, a PE ratio of 49.02, a PEG ratio of 1.13 and a beta of 1.35. MercadoLibre, Inc. has a 52 week low of $1,495.00 and a 52 week high of $2,548.50.
MercadoLibre (NASDAQ:MELI – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share 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 for the quarter, compared to the consensus estimate of $8.29 billion. During the same period in the prior year, the business earned $9.74 earnings per share. The company’s revenue for the quarter was up 49.0% compared to the same quarter last year. Analysts forecast that MercadoLibre, Inc. will post 41 earnings per share for the current year.
Insiders Place Their Bets
In other MercadoLibre news, Director Alejandro Nicolas Aguzin bought 600 shares of MercadoLibre stock in a transaction on Friday, May 22nd. The shares were purchased at an average cost of $1,655.93 per share, for a total transaction of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares in the company, valued at approximately $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 at the SEC website. Corporate insiders own 0.26% of the company’s stock.
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.
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