Public Employees Retirement System of Ohio Acquires New Holdings in MercadoLibre, Inc. (NASDAQ:MELI)

Public Employees Retirement System of Ohio purchased a new stake in MercadoLibre, Inc. (NASDAQ:MELI - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 55,760 shares of the company's stock, valued at approximately $114,417,000. Public Employees Retirement System of Ohio owned 0.11% of MercadoLibre as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MELI. D.B. Root & Company LLC acquired a new position in MercadoLibre during the second quarter worth $419,000. Dynamic Advisor Solutions LLC boosted its holdings in MercadoLibre by 1.9% during the second quarter. Dynamic Advisor Solutions LLC now owns 837 shares of the company's stock worth $1,376,000 after purchasing an additional 16 shares during the last quarter. Alpha Cubed Investments LLC boosted its holdings in MercadoLibre by 4.1% during the second quarter. Alpha Cubed Investments LLC now owns 201 shares of the company's stock worth $330,000 after purchasing an additional 8 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in MercadoLibre by 1.7% during the second quarter. NorthCrest Asset Manangement LLC now owns 8,390 shares of the company's stock worth $13,788,000 after purchasing an additional 140 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in MercadoLibre by 4.0% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,582 shares of the company's stock worth $4,243,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company's stock.

Insiders Place Their Bets

In other news, Director Emiliano Calemzuk sold 50 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $1,984.98, for a total value of $99,249.00. Following the sale, the director now directly owns 238 shares in the company, valued at approximately $472,425.24. This trade represents a 17.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company's stock.

MercadoLibre Price Performance

MercadoLibre stock traded down $37.77 during trading hours on Monday, reaching $1,947.18. 311,188 shares of the stock were exchanged, compared to its average volume of 421,521. The company has a market cap of $98.72 billion, a P/E ratio of 68.71, a price-to-earnings-growth ratio of 1.33 and a beta of 1.57. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78. MercadoLibre, Inc. has a twelve month low of $1,324.99 and a twelve month high of $2,161.73. The stock has a 50 day moving average of $2,006.79 and a two-hundred day moving average of $1,877.14.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MELI. Bank of America increased their target price on shares of MercadoLibre from $2,250.00 to $2,500.00 and gave the stock a "buy" rating in a report on Thursday, September 12th. Cantor Fitzgerald dropped their price target on shares of MercadoLibre from $2,530.00 to $2,300.00 and set an "overweight" rating on the stock in a research report on Thursday, November 7th. Wedbush reaffirmed an "outperform" rating and set a $2,200.00 price target (up from $2,000.00) on shares of MercadoLibre in a research report on Thursday, November 7th. Morgan Stanley dropped their price target on shares of MercadoLibre from $2,500.00 to $2,450.00 and set an "overweight" rating on the stock in a research report on Monday, November 11th. Finally, Susquehanna upped their price target on shares of MercadoLibre from $2,300.00 to $2,350.00 and gave the stock a "positive" rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, MercadoLibre presently has a consensus rating of "Moderate Buy" and an average target price of $2,267.67.

MercadoLibre Company 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.