MercadoLibre, Inc. $MELI Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 6.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,392 shares of the company’s stock after selling 1,692 shares during the period. New York State Common Retirement Fund’s holdings in MercadoLibre were worth $68,979,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group increased its position in shares of MercadoLibre by 650.0% during the first quarter. Brooklyn Investment Group now owns 15 shares of the company’s stock worth $29,000 after purchasing an additional 13 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of MercadoLibre in the 1st quarter valued at about $29,000. Saudi Central Bank purchased a new position in MercadoLibre during the 1st quarter worth approximately $35,000. McIlrath & Eck LLC grew its stake in MercadoLibre by 375.0% during the 1st quarter. McIlrath & Eck LLC now owns 19 shares of the company’s stock worth $37,000 after buying an additional 15 shares during the last quarter. Finally, Highline Wealth Partners LLC increased its position in MercadoLibre by 366.7% during the second quarter. Highline Wealth Partners LLC now owns 14 shares of the company’s stock worth $37,000 after buying an additional 11 shares during the period. Hedge funds and other institutional investors own 87.62% of the company’s stock.

MercadoLibre Stock Up 2.4%

Shares of MercadoLibre stock opened at $2,082.00 on Friday. MercadoLibre, Inc. has a one year low of $1,646.00 and a one year high of $2,645.22. The company has a market cap of $105.55 billion, a P/E ratio of 50.81, a PEG ratio of 1.56 and a beta of 1.51. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. The firm has a fifty day moving average of $2,184.85 and a two-hundred day moving average of $2,349.84.

MercadoLibre (NASDAQ:MELI) last issued its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing the consensus estimate of $9.88 by ($1.56). The firm had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.19 billion. MercadoLibre had a net margin of 7.93% and a return on equity of 41.35%. The firm’s revenue was up 39.5% on a year-over-year basis. During the same period in the previous year, the firm earned $7.83 EPS. On average, analysts forecast that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

Wall Street Analyst Weigh In

MELI has been the subject of several research analyst reports. Citigroup decreased their price objective on MercadoLibre from $2,850.00 to $2,700.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Jefferies Financial Group reiterated a “hold” rating and set a $2,800.00 price target on shares of MercadoLibre in a research note on Tuesday, August 5th. UBS Group lowered their price objective on shares of MercadoLibre from $3,000.00 to $2,900.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. Morgan Stanley upped their target price on shares of MercadoLibre from $2,850.00 to $2,950.00 and gave the company an “overweight” rating in a report on Monday, November 3rd. Finally, Cantor Fitzgerald decreased their target price on shares of MercadoLibre from $2,900.00 to $2,750.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,848.82.

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.