Louisiana State Employees Retirement System Acquires Shares of 3,300 MercadoLibre, Inc. $MELI

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

Several other institutional investors and hedge funds have also made changes to their positions in the business. Capital Research Global Investors grew its holdings 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 worth $4,481,812,000 after purchasing an additional 408,939 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in MercadoLibre by 803.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 333,455 shares of the company’s stock valued at $671,665,000 after buying an additional 296,543 shares in the last quarter. Norges Bank purchased a new stake in MercadoLibre in the 4th quarter valued at about $597,045,000. Marshall Wace LLP boosted its position in MercadoLibre by 184.8% in the 4th quarter. Marshall Wace LLP now owns 311,818 shares of the company’s stock valued at $628,083,000 after buying an additional 202,322 shares during the period. Finally, Baillie Gifford & Co. grew its stake in MercadoLibre by 4.9% in the 4th quarter. Baillie Gifford & Co. now owns 3,481,563 shares of the company’s stock worth $7,012,773,000 after acquiring an additional 164,120 shares in the last quarter. 87.62% of the stock is currently owned by institutional investors.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin bought 600 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average price of $1,655.93 per share, with a total value of $993,558.00. Following the transaction, the director owned 5,355 shares of the company’s stock, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

MercadoLibre Trading Up 3.4%

NASDAQ:MELI opened at $1,675.10 on Friday. The firm has a 50-day simple moving average of $1,687.25 and a 200-day simple moving average of $1,843.28. MercadoLibre, Inc. has a one year low of $1,495.00 and a one year high of $2,645.22. The firm has a market cap of $84.93 billion, a P/E ratio of 44.21, a P/E/G ratio of 1.00 and a beta of 1.36. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 1.16.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on MELI shares. The Goldman Sachs Group set a $2,100.00 target price on shares of MercadoLibre in a research report on Wednesday, May 13th. BTIG Research reissued a “buy” rating and issued a $2,150.00 price objective on shares of MercadoLibre in a research note on Tuesday, June 2nd. UBS Group reduced their price objective on MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a report on Wednesday, May 13th. Daiwa Securities Group lowered 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. Finally, Zacks Research cut MercadoLibre from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2,255.33.

MercadoLibre 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.