Illinois Municipal Retirement Fund Buys 532 Shares of MercadoLibre, Inc. $MELI

Illinois Municipal Retirement Fund grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 9.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 6,095 shares of the company’s stock after buying an additional 532 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in MercadoLibre were worth $10,538,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Laurel Wealth Advisors LLC acquired a new position in MercadoLibre in the 4th quarter worth $26,000. Transamerica Financial Advisors LLC bought a new stake in shares of MercadoLibre in the fourth quarter valued at about $26,000. Purpose Unlimited Inc. acquired a new position in shares of MercadoLibre during the fourth quarter worth about $28,000. Darwin Wealth Management LLC acquired a new position in shares of MercadoLibre during the second quarter worth about $29,000. Finally, Curio Wealth LLC bought a new position in shares of MercadoLibre during the fourth quarter worth about $30,000. Institutional investors own 87.62% of the company’s stock.

Insider Activity

In other MercadoLibre news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the transaction, the director directly owned 5,355 shares in the company, valued at approximately $8,867,505.15. This represents a 12.62% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

MercadoLibre Stock Up 0.8%

Shares of MELI stock opened at $1,857.42 on Friday. MercadoLibre, Inc. has a 52-week low of $1,495.00 and a 52-week high of $2,548.50. The stock has a market cap of $94.17 billion, a price-to-earnings ratio of 49.02, a PEG ratio of 1.13 and a beta of 1.35. The firm’s 50-day moving average is $1,678.27 and its 200-day moving average is $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.

MercadoLibre (NASDAQ:MELI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $8.23 EPS for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). The business had revenue of $8.85 billion for the quarter, compared to the consensus estimate of $8.29 billion. MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The company’s revenue for the quarter was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.74 EPS. Sell-side analysts predict that MercadoLibre, Inc. will post 41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. BTIG Research reaffirmed a “buy” rating and set a $2,150.00 price target on shares of MercadoLibre in a research report on Tuesday, June 2nd. UBS Group cut their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Barclays reduced their target price on shares of MercadoLibre from $2,500.00 to $2,300.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Jefferies Financial Group raised shares of MercadoLibre from a “hold” rating to a “buy” rating and decreased their target price for the company from $2,800.00 to $2,600.00 in a research report on Tuesday, April 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and a consensus target price of $2,258.67.

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.