Public Employees Retirement Association of Colorado raised its position in Mercadolibre Inc (NASDAQ:MELI) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,771 shares of the company’s stock after acquiring an additional 1,995 shares during the quarter. Public Employees Retirement Association of Colorado owned 0.11% of Mercadolibre worth $31,294,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of MELI. Amundi Pioneer Asset Management Inc. grew its stake in shares of Mercadolibre by 30.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 14,496 shares of the company’s stock worth $7,361,000 after purchasing an additional 3,392 shares during the period. Fulton Bank N.A. purchased a new stake in shares of Mercadolibre in the 2nd quarter worth about $201,000. WINTON GROUP Ltd purchased a new stake in shares of Mercadolibre in the 2nd quarter worth about $381,000. Gulf International Bank UK Ltd boosted its position in shares of Mercadolibre by 10.6% in the 2nd quarter. Gulf International Bank UK Ltd now owns 10,400 shares of the company’s stock worth $6,362,000 after buying an additional 1,000 shares in the last quarter. Finally, AMF Pensionsforsakring AB purchased a new stake in shares of Mercadolibre in the 2nd quarter worth about $13,744,000. 81.95% of the stock is owned by institutional investors.
Several research firms recently commented on MELI. ValuEngine upgraded shares of Mercadolibre from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus boosted their price objective on shares of Mercadolibre from $560.00 to $650.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Cowen set a $651.00 price objective on shares of Mercadolibre and gave the stock a “hold” rating in a research report on Monday, August 12th. BTIG Research upgraded shares of Mercadolibre from a “neutral” rating to a “buy” rating and set a $720.00 target price on the stock in a report on Monday, September 9th. Finally, Barclays reduced their target price on shares of Mercadolibre from $700.00 to $660.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $657.56.
Shares of MELI stock traded up $2.43 during trading hours on Friday, hitting $494.42. 390,600 shares of the company were exchanged, compared to its average volume of 567,941. The firm has a market cap of $24.11 billion, a PE ratio of -602.95 and a beta of 1.61. The company has a quick ratio of 2.53, a current ratio of 2.73 and a debt-to-equity ratio of 0.38. Mercadolibre Inc has a 1 year low of $257.52 and a 1 year high of $698.98. The firm has a fifty day moving average of $537.52 and a 200 day moving average of $581.45.
Mercadolibre (NASDAQ:MELI) last released its earnings results on Thursday, October 31st. The company reported ($2.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($2.97). The firm had revenue of $603.03 million for the quarter, compared to analyst estimates of $588.23 million. Mercadolibre had a negative return on equity of 1.29% and a negative net margin of 5.87%. Mercadolibre’s revenue was up 69.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.23) earnings per share. Analysts expect that Mercadolibre Inc will post -1.15 earnings per share for the current year.
Mercadolibre Company Profile
MercadoLibre, Inc operates online commerce platforms in Latin America. It operates MercadoLibre Marketplace, an automated online commerce platform that enables businesses and individuals to list merchandise and conduct sales and purchases online; and MercadoPago FinTech, 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, and allows merchants to process transactions via their Websites and mobile apps, as well as in their brick-and-mortar stores through QR and mobile points of sale.
Read More: The limitations of an equal weight rating
Receive News & Ratings for Mercadolibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercadolibre and related companies with MarketBeat.com's FREE daily email newsletter.