Public Employees Retirement Association of Colorado Boosts Position in MercadoLibre, Inc. (NASDAQ:MELI)

Public Employees Retirement Association of Colorado boosted its position in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 17.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,945 shares of the company’s stock after purchasing an additional 10,050 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.14% of MercadoLibre worth $113,304,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. First PREMIER Bank purchased a new stake in MercadoLibre during the first quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in MercadoLibre by 1,600.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 17 shares of the company’s stock worth $28,000 after purchasing an additional 16 shares in the last quarter. DSM Capital Partners LLC purchased a new stake in MercadoLibre during the fourth quarter worth $36,000. Scarborough Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter worth $36,000. Finally, Financial Connections Group Inc. purchased a new stake in MercadoLibre during the second quarter worth $36,000. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Citigroup upped their price objective on MercadoLibre from $2,000.00 to $2,200.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Cantor Fitzgerald assumed coverage on MercadoLibre in a research report on Thursday, September 5th. They issued an “overweight” rating and a $2,530.00 price objective on the stock. Susquehanna upped their price objective on MercadoLibre from $2,300.00 to $2,350.00 and gave the company a “positive” rating in a research report on Wednesday, August 28th. Bank of America upped their price objective on MercadoLibre from $2,250.00 to $2,500.00 and gave the company a “buy” rating in a research report on Thursday, September 12th. Finally, New Street Research downgraded MercadoLibre from a “buy” rating to a “neutral” rating in a research report on Friday, May 24th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2,182.92.

MercadoLibre Stock Performance

Shares of NASDAQ:MELI opened at $2,109.40 on Friday. The firm has a market capitalization of $106.94 billion, a PE ratio of 94.38, a P/E/G ratio of 1.33 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.28 and a quick ratio of 1.26. The business has a 50-day moving average of $1,892.32 and a two-hundred day moving average of $1,686.62. MercadoLibre, Inc. has a 12 month low of $1,141.04 and a 12 month high of $2,157.64.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Thursday, August 1st. The company reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.53 by $1.95. MercadoLibre had a return on equity of 43.52% and a net margin of 8.03%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the firm earned $5.16 earnings per share. The company’s revenue for the quarter was up 41.5% compared to the same quarter last year. As a group, research analysts forecast that MercadoLibre, Inc. will post 35.22 earnings per share for the current year.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.