Teacher Retirement System of Texas Boosts Stake in MercadoLibre, Inc. $MELI

Teacher Retirement System of Texas grew its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 27.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,611 shares of the company’s stock after buying an additional 9,098 shares during the period. Teacher Retirement System of Texas’ holdings in MercadoLibre were worth $85,830,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MELI. Darwin Wealth Management LLC purchased a new position in shares of MercadoLibre in the second quarter worth $29,000. Holos Integrated Wealth LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth $32,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of MercadoLibre in the third quarter worth $35,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of MercadoLibre in the third quarter worth $35,000. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of MercadoLibre by 100.0% in the third quarter. Cullen Frost Bankers Inc. now owns 16 shares of the company’s stock worth $37,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MELI shares. JPMorgan Chase & Co. cut shares of MercadoLibre from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $2,650.00 to $2,100.00 in a report on Thursday, March 12th. Wedbush cut their price objective on shares of MercadoLibre from $2,600.00 to $2,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings downgraded shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 8th. Morgan Stanley lowered their price target on shares of MercadoLibre from $2,800.00 to $2,600.00 and set an “overweight” rating on the stock in a report on Monday, March 9th. Finally, Zacks Research raised shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, MercadoLibre has an average rating of “Moderate Buy” and an average target price of $2,685.33.

MercadoLibre Stock Up 0.4%

MELI stock opened at $1,860.98 on Thursday. The firm has a market cap of $94.35 billion, a PE ratio of 47.23, a P/E/G ratio of 0.87 and a beta of 1.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.17. The firm’s fifty day moving average is $1,783.48 and its 200 day moving average is $1,988.65. MercadoLibre, Inc. has a one year low of $1,593.21 and a one year high of $2,645.22.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings results on Saturday, February 14th. The company reported $11.03 EPS for the quarter. The company had revenue of $8.76 billion for the quarter. MercadoLibre had a net margin of 6.91% and a return on equity of 33.73%. On average, research analysts forecast that MercadoLibre, Inc. will post 51.5 EPS for the current 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.