Public Employees Retirement System of Ohio Sells 2,546 Shares of MercadoLibre, Inc. $MELI

Public Employees Retirement System of Ohio decreased its position in MercadoLibre, Inc. (NASDAQ:MELI) by 5.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 41,057 shares of the company’s stock after selling 2,546 shares during the period. Public Employees Retirement System of Ohio’s holdings in MercadoLibre were worth $70,988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new stake in MercadoLibre in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC purchased a new stake in MercadoLibre during the fourth quarter valued at about $26,000. Purpose Unlimited Inc. bought a new position in MercadoLibre during the fourth quarter worth about $28,000. Darwin Wealth Management LLC bought a new position in MercadoLibre during the second quarter worth about $29,000. Finally, Curio Wealth LLC purchased a new position in shares of MercadoLibre in the fourth quarter worth about $30,000. 87.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on MELI. The Goldman Sachs Group set a $2,100.00 price target on shares of MercadoLibre in a research report on Wednesday, May 13th. Morgan Stanley cut their price objective on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a report on Monday, May 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of MercadoLibre in a research note on Thursday, July 2nd. BTIG Research reissued a “buy” rating and set a $2,150.00 target price on shares of MercadoLibre in a report on Tuesday, June 2nd. Finally, Raymond James Financial set a $2,000.00 target price on shares of MercadoLibre in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $2,258.67.

MercadoLibre Stock Down 0.0%

MELI stock opened at $1,798.70 on Friday. The stock has a 50-day simple moving average of $1,700.85 and a two-hundred day simple moving average of $1,815.91. MercadoLibre, Inc. has a twelve month low of $1,495.00 and a twelve month high of $2,548.50. The firm has a market capitalization of $91.19 billion, a PE ratio of 47.47, a PEG ratio of 1.11 and a beta of 1.35. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 0.63.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings results on Thursday, May 7th. The company reported $8.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.75 by ($0.52). MercadoLibre had a return on equity of 29.58% and a net margin of 6.04%.The firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.29 billion. During the same period in the previous year, the company posted $9.74 earnings per share. The company’s quarterly revenue was up 49.0% compared to the same quarter last year. On average, equities analysts predict that MercadoLibre, Inc. will post 41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Alejandro Nicolas Aguzin bought 600 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director owned 5,355 shares of the company’s stock, valued at approximately $8,867,505.15. The trade was a 12.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

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.