Employees Retirement System of Texas Has $51.35 Million Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Employees Retirement System of Texas boosted its position in MercadoLibre, Inc. (NASDAQ:MELI) by 1,321.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,200 shares of the company’s stock after buying an additional 28,075 shares during the quarter. Employees Retirement System of Texas owned approximately 0.06% of MercadoLibre worth $51,353,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Human Investing LLC bought a new position in shares of MercadoLibre in the fourth quarter worth about $26,000. Pacific Capital Wealth Advisors Inc. lifted its holdings in shares of MercadoLibre by 220.0% during the fourth quarter. Pacific Capital Wealth Advisors Inc. now owns 16 shares of the company’s stock worth $27,000 after buying an additional 11 shares during the last quarter. Brown Lisle Cummings Inc. boosted its position in shares of MercadoLibre by 100.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 16 shares of the company’s stock valued at $27,000 after acquiring an additional 8 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of MercadoLibre in the fourth quarter worth $32,000. Finally, Mather Group LLC. increased its position in MercadoLibre by 171.4% during the fourth quarter. Mather Group LLC. now owns 19 shares of the company’s stock worth $32,000 after acquiring an additional 12 shares during the period. Institutional investors own 87.62% of the company’s stock.

Wall Street Analysts Forecast Growth

MELI has been the topic of several research analyst reports. New Street Research upgraded shares of MercadoLibre from a “neutral” rating to a “buy” rating and raised their price target for the stock from $2,000.00 to $2,300.00 in a research report on Thursday, January 30th. The Goldman Sachs Group upped their target price on MercadoLibre from $2,400.00 to $2,750.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Barclays raised their price target on shares of MercadoLibre from $2,200.00 to $2,500.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Cantor Fitzgerald increased their price objective on MercadoLibre from $2,150.00 to $3,000.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Bank of America raised their price objective on shares of MercadoLibre from $2,500.00 to $3,000.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $2,402.81.

MercadoLibre Price Performance

MELI opened at $1,841.29 on Monday. MercadoLibre, Inc. has a 52 week low of $1,324.99 and a 52 week high of $2,374.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.22 and a current ratio of 1.25. The firm has a market capitalization of $93.35 billion, a PE ratio of 48.84, a P/E/G ratio of 1.12 and a beta of 1.62. The company has a fifty day moving average price of $2,036.90 and a two-hundred day moving average price of $1,966.91.

MercadoLibre (NASDAQ:MELI) last released its quarterly earnings data on Thursday, February 20th. The company reported $12.61 earnings per share for the quarter, topping the consensus estimate of $10.21 by $2.40. MercadoLibre had a net margin of 9.20% and a return on equity of 51.89%. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $5.94 billion. As a group, analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

About MercadoLibre

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.