Teacher Retirement System of Texas Buys 9,098 Shares of MercadoLibre, Inc. $MELI

Teacher Retirement System of Texas boosted its stake in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 27.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,611 shares of the company’s stock after acquiring an additional 9,098 shares during the quarter. Teacher Retirement System of Texas owned about 0.08% of MercadoLibre worth $85,830,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Weitz Investment Management Inc. purchased a new stake in shares of MercadoLibre in the third quarter valued at approximately $8,647,000. Barlow Wealth Partners Inc. boosted its holdings in shares of MercadoLibre by 126.7% in the third quarter. Barlow Wealth Partners Inc. now owns 11,505 shares of the company’s stock valued at $26,886,000 after purchasing an additional 6,429 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of MercadoLibre by 14.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,699 shares of the company’s stock valued at $202,610,000 after purchasing an additional 10,849 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of MercadoLibre by 18.7% in the third quarter. Principal Financial Group Inc. now owns 48,103 shares of the company’s stock valued at $112,414,000 after purchasing an additional 7,570 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of MercadoLibre by 5.5% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 11,560 shares of the company’s stock valued at $27,015,000 after purchasing an additional 600 shares during the period. 87.62% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MELI has been the subject of a number of research reports. Jefferies Financial Group upgraded MercadoLibre from a “hold” rating to a “buy” rating and lowered their price target for the company from $2,800.00 to $2,600.00 in a report on Tuesday, April 7th. BTIG Research reiterated a “buy” rating and issued a $2,400.00 price target on shares of MercadoLibre in a report on Friday, April 10th. Wedbush lowered their price target on MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Barclays lowered their price target on MercadoLibre from $2,600.00 to $2,500.00 and set an “overweight” rating for the company in a report on Monday. Finally, UBS Group cut their price objective on shares of MercadoLibre from $2,900.00 to $2,700.00 and set a “buy” rating on the stock in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus price target of $2,685.33.

MercadoLibre Price Performance

Shares of MELI opened at $1,860.98 on Thursday. The company has a market cap of $94.35 billion, a price-to-earnings ratio of 47.23, a price-to-earnings-growth ratio of 0.87 and a beta of 1.49. MercadoLibre, Inc. has a twelve month low of $1,593.21 and a twelve month high of $2,645.22. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $1,783.48 and a two-hundred day moving average of $1,988.65.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Saturday, February 14th. The company reported $11.03 earnings per share for the quarter. The company had revenue of $8.76 billion during the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. As a group, analysts predict that MercadoLibre, Inc. will post 51.5 earnings per share for the current fiscal year.

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.